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BGI acts for clients in the largest ever insolvency proceedings in Georgia
BGI represented a US-based aircraft leasing conglomerate and a joint venture of two major EU airlines in the insolvency proceedings of the largest Georgian airline. The complex insolvency proceedings ended up with the commencement of rehabilitation of the local airline, while creditors gained an effective supervision mechanism.
“The largest rehabilitation process in the history of Georgia has just begun. International creditors gave the local airline a unique opportunity to recover. We are honored to have played a pivotal role in this process,” noted George Sarajishvili, the Head of Litigation Practice, who led the BGI team.
“Following intense negotiations, we managed to establish a mechanism ensuring transparency and accountability of the rehabilitation process and maximizing the chances of creditor recovery,” added Lika Topuria, Senior Associate of BGI Legal.