The Central Bankruptcy Court Grants NOK’s Rehabilitation-Plan Extension to May 15

Nok Airlines Public Company Limited (NOK) announced that the Central Bankruptcy Court has considered and issued a further order approving the extension of the submission period of the rehabilitation plan to May 15, 2021, which is the last extension of time as permitted by law.

 

The extension followed NOK’s request to the court for an extension of the limit for submission of the rehabilitation plan of one month from the previous deadline. This extension is needed as additional information is required for the draft rehabilitation amendment in order to prepare a complete and comprehensive rehabilitation plan to ensure that the rehabilitation plan will be appropriated for airline business during Covid-19 pandemic situation and will receive the approval from the creditors’ meeting.

Moreover, as the rehabilitation plan contains several important aspects which required the consideration and suggestions from several relevant parties and due to several public holidays in April 2021 which made the company unable to submit the rehabilitation plan within April 15, 2021 so the second extension of the limit for submission of the rehabilitation plan is requested by the company.