Wilmington Trust moves insolvency plea against SpiceJet; hearing on Monday

Wilmington Trust, one of SpiceJet’s aircraft lessors, has moved the National Company Law Tribunal (NCLT) to initiate an insolvency process against the airline for non-payments of dues. The first hearing of this case will take place on Monday.

Wilmington Trust is an affiliate of Aircastle, which had last month filed a similar case at the NCLT. During this case’s ongoing hearings, SpiceJet said that Aircastle’s petition had defects and it could not be maintained. Consequently, the NCLT on June 6 asked Aircastle to submit its reply to SpiceJet’s rejoinder within two weeks.

On Sunday, a SpiceJet spokesperson told Business Standard,