MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Monday, 06 May 2024

Engine maker Pratt & Whitney opposes GoFirst's attempt to enforce arbitration ruling

On Wednesday the National Company Law Tribunal (NCLT) had admitted the low-cost airline’s plea for voluntary insolvency

Our Bureau Mumbai Published 13.05.23, 05:10 AM
Representational image.

Representational image. File Photo

Engine maker Pratt & Whitney, which has come into focus after Go First filed for voluntary insolvency, has opposed the carrier’s attempt to enforce an arbitration ruling even as it has argued in a Delaware court that the airline’s bankruptcy filing has increased the ‘risks’ for it.

On Wednesday the National Company Law Tribunal (NCLT) had admitted the low-cost airline’s plea for voluntary insolvency and imposed a moratorium which effectively bars the lessors from taking possession of its aircraft.

ADVERTISEMENT

Go First has also maintained that it has been facing financial distress due to inherently defective engines supplied by Pratt & Whitney.

Before knocking on the doors of NCLT, Go First had commenced an arbitration against Pratt & Whitney under the 2016 Rules of the Singapore International Arbitration Centre (SIAC) – seeking compensation in excess of Rs 8,000 crore and other final relief. Subsequently, in the emergency arbitration, the emergency arbitrator passed an interim award in favour of the airline.

Follow us on:
ADVERTISEMENT