Jet lenders face new headwinds in India

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Jet Airways’ lenders are facing an uphill struggle to get their money back following the intervention of the carrier’s court-appointed trustee. The Economic Times of India reports that the trustee, appointed by a Dutch court, is seeking to block a joint declaration of bankruptcy in the Indian courts. The Mumbai Bench of the National Company Law Tribunal said it would consider the trustee’s plea today. However, one legal expert noted that India’s courts lack any provisions for cross-border insolvency, adding that any orders dictated by a foreign court would come under conflict with Indian law.