Garuda Indonesia wins lawsuit in Paris court against lessors

February 17, 2023 03:01 AM AEDT | By Reuters
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JAKARTA (Reuters) - State flag carrier Garuda Indonesia said in a statement on Thursday it had won a lawsuit in Paris civil court against two Ireland-based lessors Greylag 1410 and 1446.

Garuda, through its France-based unit Garuda Indonesia Holiday France (GIHF), won a "judicial release" lawsuit that it filed in Paris civil court against the lessors' legal efforts to temporarily seize GIHF's account.

The carrier won the lawsuit as judges decided the lessors' request for a temporary confiscation did not have a strong legal basis as Garuda already had a court-ratified restructuring agreement with its creditors, including with the two lessors, according to the statement.

"...various lawsuits filed by the two lessors is an action that is very well as hindering the steps to accelerate the company's performance," Garuda CEO Irfan Setiaputra said in the statement.

With the ruling, the court granted a full release on the temporary confiscation of GIHF's account and ordered the two lessors to pay GIHF 230,000 euros ($245,364) in damages and other costs.

Greylag 1410 and 1446 could not immediately be reached for comment.

Garuda reached an agreement with its creditors, which include lessors and Islamic bond investors, last June to restructure more than $9 billion of debt.

Earlier this month, the same two lessors filed applications in a Jakarta court to cancel the June restructuring deal.

($1 = 0.9374 euros)

(Reporting by Stefanno Sulaiman; Editing by Bernadette Baum)


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