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Irish court approves Norwegian Air restructuring scheme reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
However, lawyers representing several creditors who are affected by the proposed repudiation expressed their concern about the application. Rossa Fanning SC, who represented three parties affected, said while he did not want to prejudice any ongoing talks, the lack of detail in the airline’s proposed repudiation application was of concern. He said if matters could not be resolved out of court, his clients would wish to put issues before the court in sworn statements. Having the matter resolved in a short period of time, as proposed by the company, was also unrealistic, counsel said. Mr Justice Quinn said that he did not want too many unnecessary court hearings on the matter. ....
Examiner says airline has reasonable chance of survival Norwegian planning future with fewer planes, less debt (Adds background, detail) DUBLIN/OSLO, Jan 22 (Reuters) - Norwegian Air’s chances of surviving the COVID-19 pandemic were given a boost on Friday when Ireland’s High Court granted an extension to its protection from creditors following a request from the official overseeing the process. Norwegian was given protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, late last year and is aiming to emerge from the process with fewer aircraft and less debt. The extension to Feb. 25 was granted after a lawyer representing the Irish examiner overseeing the process told the court the budget carrier had a reasonable prospect of survival. ....