Interest fee

Ch. of jet owners. 11 Approved Bid Plan with New Break Fees

By Vince Sullivan (February 4, 2022, 6:09 PM EST) – A New York bankruptcy judge has found bid protections in a plan to sell proposed by the owners of two planes leased to an Asian airline were warranted in their Chapter 11 circumstances, saying Friday that a severance pay of 3.5% was higher than normal but still appropriate.

In a videoconference hearing, U.S. Bankruptcy Judge David S. Jones said the breakage fee payable to the stalking horse bidder in the case was higher than the usual 3% cap on such payments, but that the case of debtors JPA No. 111 Co. Ltd. and JPA No. 49 Ltd. include risks not…

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