Irish schemes of arrangement - a restructuring option for aircraft lessors?
On 21 July 2020, the Irish High Court approved a scheme of arrangement for the world's biggest regional aircraft lessor Nordic Aviation Capital DAC (NAC).
The scheme, which included a 12-month standstill and deferral of c.US$5bn of secured and unsecured debt, is a market-first for the aircraft leasing industry in Ireland whose customer base has been seriously impacted by COVID-19.
Our Aviation & Transport Finance and Restructuring & Insolvency teams look at the NAC scheme of arrangement and consider whether it is a viable restructuring option for the aviation sector more generally.
For more information on this, please contact a member of our Aviation & Transport Finance team or our Restructuring & Insolvency team.
Date published: 27 July 2020