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DUBLIN, March 26 (Reuters) – Eire’s Excessive Court docket on Friday authorised Norwegian Air’s NORR.OL restructuring scheme, clearing the way in which for the airline to boost new capital and emerge from chapter safety in Eire and Norway in Could.
“I’ve determined that it’s acceptable to verify the proposals of the examiner,” Justice Michael Quinn instructed the court docket.
“I’m persuaded by the proof of the examiner that these proposals can facilitate the survival of the businesses as a going concern.”
The court docket made the ruling, a key milestone within the airline’s battle to outlive the coronavirus pandemic which has decimated air journey, after not one of the firm’s collectors challenged the proposed scheme throughout a two-day listening to.
(Reporting by Conor Humphries, writing by Gwladys Fouche, enhancing by Victoria Klesty)
(([email protected]; +47 21 04 05 53; Reuters Messaging: Twitter deal with: @gfouche))
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