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Cabinet approves Air Namibia liquidation - Transport


11 February 2021 | Transport
OGONE TLHAGE
WINDHOEK
Cabinet has approved the voluntary liquidation of Air Namibia, and a three-person board of directors has been appointed to help safeguard the airline’s assets from being attached in case of failure to pay Challenge Air N$107 million next week.
Lawyer Norman Tjombe, businesswoman Hilda Basson-Namundjebo and economist James Cumming have been appointed in part to assist interim CEO Theo Mberirua in ensuring the airline’s assets are protected.
“All efforts must be made to protect the assets of the company,” public enterprises minister Leon Jooste wrote yesterday.
“The resolution must be registered by the Business and Intellectual Property Authority (for voluntary liquidation) before 18 February to ensure that Challenge cannot attach any Air Namibia assets,” the minister further wrote. ....

Ellnanie Smitwindhoekthe Lufthansa Group , Air Namibia , Ellanie Smit Windhoekthe Namibia Airports Company , Namibia Airports Company , Broads Authority , Escher Luanda , Lufthansa Group , Frankfurt Lufthansa , அேக நமீபியா , நமீபியா விமான நிலையங்கள் நிறுவனம் , சாலைகள் அதிகாரம் , எஶர் லுவாண்டா , லுஃப்தான்சா குழு , பிராங்க்ஃபர்ட் லுஃப்தான்சா ,

A guide to Air Namibia's liquidation - Transport


WINDHOEK
Government has finally pronounced that it will liquidate Air Namibia. To make sense of the announcement, Namibian Sun - through the help of analysts - unpacks the move and its consequences.
Liquidation is entered into when a company is unable to meet its obligations or when its liabilities (what it owes), exceeds its assets (what it owns).
Air Namibia’s voluntary liquidation simplified:
· Independent registered liquidator to take control of Air Namibia so its affairs can be wound up in an orderly and fair way to benefit creditors.
· Challenge Air and other creditors cannot commence or continue legal action against Air Namibia. ....

Ellnanie Smitwindhoekthe Lufthansa Group , Air Namibia , Ellanie Smit Windhoekthe Namibia Airports Company , Namibia Airports Company , Broads Authority , Namibian Sun , Escher Luanda , Lufthansa Group , Frankfurt Lufthansa , அேக நமீபியா , நமீபியா விமான நிலையங்கள் நிறுவனம் , சாலைகள் அதிகாரம் , எஶர் லுவாண்டா , லுஃப்தான்சா குழு , பிராங்க்ஃபர்ட் லுஃப்தான்சா ,