https://www.taxtmi.com/caselaws?id=440212 Aircraft lessors seeking interim protection under the insolvency moratorium were found entitled to limited access for inspection and maintenance where the leases had been terminated before the moratorium and deregistration had been sought under Rule 30(7) of the Aircraft Rules, 1937. The regulatory framework was treated as imposing a mandatory duty on the aviation authority, and the aircraft were viewed as assets requiring preservation rather than as unrestricted corporate debtor assets. Interim relief was therefore granted in part, permitting inspection and periodic maintenance, restraining removal or alteration of aircraft parts and records without consent, and directing special maintenance measures to prevent deterioration and loss of value. en-us Wed, 05 Jul 2023 00:00:00 +0530 Thu, 13 Jul 2023 08:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440212 Aircraft lessors seeking interim protection under the insolvency moratorium were found entitled to limited access for inspection and maintenance where the leases had been terminated before the moratorium and deregistration had been sought under Rule 30(7) of the Aircraft Rules, 1937. The regulatory framework was treated as imposing a mandatory duty on the aviation authority, and the aircraft were viewed as assets requiring preservation rather than as unrestricted corporate debtor assets. Interim relief was therefore granted in part, permitting inspection and periodic maintenance, restraining removal or alteration of aircraft parts and records without consent, and directing special maintenance measures to prevent deterioration and loss of value. Case-Laws Insolvency and Bankruptcy Wed, 05 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440212