Insel Air Aruba N.V. has requested and has been granted temporary bankruptcy protection status by the Court of First Instance of Aruba until at least June 7th, 2017. On June 7th, 2017 the Court will have to decide if the bankruptcy protection is extended beyond that date. Such protection can last up to one year and a half. The consequences for the airline is that an independent administrator has been appointed to Insel Air Aruba and that the managing-directors of the company can’t legally bind the company without consent of the administrator. During this period the company enjoys certain protection from creditors. During this timeframe creditors can consider whether or not to further pursue their claims against the company
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At this point it is not known if Insel Air International B.V., based in Curacao, will also request such bankruptcy protection from the Court of Curacao.
#arubaguy #thearubaguy #arubalawyer #lincolngomez
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Published by Lincoln D Gomez
Lincoln D. Gomez is a corporate lawyer based in Aruba. He is admitted to the Bar in both Aruba Curacao, Sint Maarten & BES-islands. He holds degrees in International Tax & Financial Services from Thomas Jefferson School of Law, San Diego, CA (LL.M.), a law degree from the Universiteit van Aruba (LL.M.) and
Biology and Chemistry from Saint Leo University, Tampa, FL
He is co-founder and managing-partner of Gomez & Bikker www.gobiklaw.com. His practice concentrates on Aruba corporate law, intellectual property, aviation finance & registration, labor law, real estate and civil litigation. He is an author and lecturer on Aruba law. His publications are in the areas of: the civil code of Aruba, labor laws, intellectual property, aviation finance and corporate law. His clients have dubbed him "the Aruba Guy" when it comes to finding creative solutions to complex legal issues in Aruba.
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