8 février 2023
R&I Update - February 2023 – 2 de 3 Publications
CargoLogicAir Limited (the Company) was the UK's only all-cargo main deck freight airline. Due to sanctions imposed on its Russian owner, the Company was unable to effectively trade and pay its debts as they fell due despite obtaining a 'Basic Needs Licence'. Its sole director applied to appoint administrators.
The court considered two key issues:
The court ruled that it was preferable for the administrators to take immediate control of the Company. As independent experienced insolvency practitioners, they will take control of the Company and ensure an orderly wind-down that respects the sanctions regime.
To discuss the issues raised in this article in more detail, please contact a member of our Restructuring & Insolvency team.
8 February 2023
8 February 2023
8 February 2023
par Luke Viner
par Louise Jennings et Isabelle Moisy
par Louise Jennings et Isabelle Moisy
par Louise Jennings et Isabelle Moisy