Yet another extension, seems reasonable given the logistics of arranging creditor meetings. Planned exit will be around May, IF the funds are forthcoming.
https://www.irishtimes.com/business/...tion-1.4489905
Another complicating factor, the court heard is the companies’ ongoing efforts for repudiation of aircraft leases and service contracts it had entered into. The company says, if it is to survive, it needs to have those agreements set aside.
Several contested applications regarding leases, arising mainly out of Norwegian’s decision to reduce its fleet when it opted to cease its long-haul services, are due before the High Court next week.
The lessors sticking out for a proper settlement ironically may be the one that get the "best deal" as they are now the fly in the ointment
Mr Justice Quinn, who made orders in other motions from the examiner over the approval of pre-petition payments for critical services, fixed April 16th to the examiner’s application to formally approve any scheme of arrangement approved by creditors.
And, to continue to operate the examiner must now start paying for "critical services"