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[Curaçao] Judge declares DAE officially bankrupt

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bimjim
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[Curaçao] Judge declares DAE officially bankrupt

Unread post by bimjim » Sat Aug 31, 2013

http://www.thedailyherald.com/index.php ... krupt.html

[Curaçao] Judge declares DAE officially bankrupt
SATURDAY, 31 AUGUST

WILLEMSTAD

Curaçao-based carrier Dutch Antilles Express (DAE) was declared bankrupt on Friday morning. The Judge in a Curaçao Court declared the airline bankrupt at 10:40am Friday and as such it no longer can do business as usual.

It is expected that the two stages of bankruptcy will now be initiated with the appointment of trustees and an evaluation of the airline's ability to generate capital to pay its debts or creditors under conditions that will be set by law.

If this is not possible, it can be expected that the bankruptcy then will move to stage two, which would involve the liquidation of all of the airline's assets.

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