A recent Delhi High Court ruling allowing lessors to deregister and reclaim 54 Go First aircraft has dashed creditors’ hopes of securing a favorable valuation for the defunct airline. With few assets remaining, the airline’s viability as a saleable entity is in question, potentially disrupting ongoing bankruptcy proceedings. Lenders, set to convene on Monday, face tough decisions on whether to continue the process or pursue alternative recovery options. The ruling, prompted by lessors’ petition, instructs the Directorate General of Civil Aviation to deregister the aircraft and prohibits the airline from removing any related documents or parts. Despite hopes pinned on arbitration proceedings and a sizable land parcel, creditors seek recovery amidst challenges posed by the airline’s insolvency and contractual disputes with Pratt & Whitney.
Delhi High Court Ruling Deals Blow to Go First’s Creditors
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