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AirAsia X Berhad v BOC Aviation Limited (Originating Summons WA-24NCC-467-10/2020).
Summary
On 19 February 2021 Judicial Commissioner Ong Chee Kwan allowed AirAsia X (AAX) Berhad s application under Section 366 of the Companies Act 2016 for leave to convene creditors meetings to consider and approve an arrangement scheme. However, the judge disagreed with AAX s division of the scheme creditors into two classes:
Class A – secured creditors; and
Class B – unsecured creditors.
The judge agreed with the submissions from the counsel for Malaysia Airports and the counsel for the lessors and held that:
the lessors of lease agreements with AAX must be treated as unsecured creditors and placed in Class B; and ....

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