SpiceJet-Wilmington Trust SP Services in deadlock over rental agreement

SpiceJet told the National Company Law Tribunal (NCLT) on Tuesday that aircraft lessor Wilmington Trust SP Services is not entitled to receive rental amounts from them as the invoices raised by them vested the right of payment to Aircastle (Ireland) and not Wilmington.

The airline had also told the court earlier that Wilmington had failed to produce any document on record under the Insolvency and Bankruptcy Code, 2016 (IBC) to suggest debt, if any, was assigned in its favour. So Wilmington is ‘not an operational creditor’, the airline said and added that there is no record in their lease as well as in subsequent amendment to indicate that Wilmington was to receive any lease rentals from Spicejet.