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Court date set for final Allco showdown
16 October 2009
An Australian judge will decide whether a majority or unanimous vote is need to transfer aircraft from Allco Aviation to another servicer. The judgement could finally decide the sale of Allco Aviation on year after its parent entered bankruptcy.
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[Allco]
[Bravia]
[HNA Group]
[Ferrier Hodgeson]
[Bank of New York]
The final act in the story of Allco Aviation will take place in a New South Wales Court on November 6.Bank of New York, the security trustee for Allco Aviation lenders, today successfully argued for a hearing to be fast tracked to November almost exactly a year after Allco Finance entered bankruptcy.A judge will be asked to decide whether a unanimous decision from all lenders on an individual transaction or just the majority of lenders is required to...
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