These airframes were the assets of
Torskefjorden Leasing Ltd which was wound up by the courts on Jan 15th as the judge decided the company would no longer be viable as the only client NAS would not be able to pay for the leases.
Friday the court will decide if the guarantees can be repudiated. At the moment creditors are offered 4% of their debt in settlement and perhaps some cash, but being warned the cash is less the longer the process goes on. Its a cat and mouse game at the moment but Norwegian have advised they may not successfully exit the process if deals can't be struck.
As part of the Irish process, which is due to conclude by April 16, the Irish High Court will rule on Friday on whether to allow the airline to repudiate liabilities, including three aircraft subleases and 25 guarantees tied to aircraft leases.
A lawyer for Norwegian on Tuesday confirmed to the court that agreement had been secured on the last of 36 aircraft leases it had been seeking to repudiate.