Insolvency: What rights need to be considered?
Nat Young writes for the Financial Director on lessons learned from the recent Monarch insolvency case. To see the full article, click here.
After Monarch's demise made the headlines, attention has now turned to the courtroom battle over their take-off and landing slots. Initially unsuccessful in the High Court, the administrators have now succeeded in overturning that judgment in the Court of Appeal. It now seems that they will be able to sell Monarch’s slots at Gatwick and Luton, which are said to be worth up to £60 million.
This decision turned on issues of aviation law, such as whether Monarch was still an ‘air carrier’ – a far cry from the issues that arise in more mundane administrations. However, it was a useful reminder that administration not only affects the ability of a company to keep trading, it can also affect the value of its assets.
To read the full article, click here.