Government lodges petition to prevent bond holders from recovering investments in Air Seychelles |07 September 2021
The government has taken legal steps to help the national airline Air Seychelles put off an attempt by its creditors to wind it up.
This is through a petition that it has lodged in the Supreme Court, a case that was presented for the first time yesterday morning to prevent the bond holders’ petition to try and recover their investments. The bond holders are claiming that the loss-making national airline owes them US $76 million which is in addition to the US $11 million that the airline has agreed to pay its former shareholder Etihad.
The case is expected back in Court next week.
Meanwhile the principal secretary for civil aviation, ports and marine, Allan Renaud, has noted that as the main shareholder of Air Seychelles, “our interest is direct and clear and we have rights in this case so we are showing our support to the airline”.
Air Seychelles is being represented in the case by lawyer Bernard Georges.
PS Renaud said they were expecting something like this to happen and it is part of the normal legal process in such a case and he has assured the public that there will be no disruption to Air Seychelles’ operations.
Meanwhile the bond holders’ lawyer, Audric Govinden, has said that everything is in the hands of the Court as the government has decided to intervene they will wait for the response of the Court.
Meanwhile the case of the mother who disposed of the body of her dead baby in a public bin at Beau Bel, was back in Court yesterday and the Attorney General, Frank Ally, has asked for more time before charges are brought against the 27-year-old mother of two other children. She has been in police remand custody since July and she will reappear in Court on September 17.
Compiled by M-A.L