19 Feb 2021
AIRASIA X BERHAD (COMPANY NO.: 200601014410 (734161-K)) 1. BOC AVIATION LIMITED (COMPANY NO.: 199307789K) 2. MALAYSIA AIRPORTS (SEPANG) SDN BHD (COMPANY NO.: 320480-D) 3. MACQUARIE AIRCRAFT LEASING SERVICES (IRELAND) LIMITED (COMPANY NO.: 4
- Citation
- WA-24NCC-467-10/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-467-10/2020 (Mahkamah Tinggi)
The court granted leave to convene creditor meetings under s.366(1): the proposed scheme qualifies as a compromise/arrangement; AAX's convening application was not an abuse nor subject to dismissal for hopeless insolvency at this stage; the lessors and Airbus are not secured creditors by reason of security deposits/maintenance reserves or predelivery payments and thus are unsecured, but Airbus and the lessors have dissimilar positions such that the lessors must be placed in a separate class from Airbus; the Cape Town Convention/Protocol can characterise schemes as insolvency-related events bu…