The administrator of a Netherlands court, which is pursuing insolvency of grounded Jet Airways, on Wednesday threatened to sell off the confiscated assets of the debt-laden carrier because of non-cooperation by the committee of creditors (CoC). A three-member bench headed by Justice SJ Mukhopadhyay has sought the lenders’ response on whether they are ready to pay fees and bear costs incurred by the Dutch court administrator, Rocco Mulder.
The NCLAT said it would consider similar treatment for creditors of foreign countries as financial creditors and could allow cost of insolvency resolution process at overseas location to be borne in India. The tribunal will further hear the case on September 4.
