Go First resolution professional not providing access to aircraft records, lessors tell Delhi HC

livemint.com:

NEW DELHI : Lessors of Go First have told the Delhi High Court that they have not received any records related to aircraft maintenance from the insolvent airline’s resolution professional since May, or been allowed to physically inspect its assets. Resolution, or insolvency, professionals are hired by lenders to run insolvent firms. Go First’s RP is in contempt of court for not complying with its order from two months earlier, the lessors argued before a single-judge bench on Tuesday.

The court had on 12 October directed Go First’s RP to provide all maintenance and technical records and other key aircraft-related documents to the lessors within a week. The court did not issue a contempt notice on the RP, but instructed it to file an affidavit by 12 December stating whether it had followed its order or not. The court made it clear that if it found that the RP had not complied with its order, it would have to take action in the contempt proceedings.

The lessors made their arguments before the high court as part of a newly filed contempt petition by Go First lessor DAE (SY22) 13 Ireland Designated Activity. The lessor has alleged that the RP had willfully failed to comply with the court’s order by not providing the necessary maintenance and technical records. The documents being sought include records on the removal of engine parts and airframe, storage, historical data, online records, and any information on the airworthiness of the aircraft.