Jet Airways becomes the first company to undergo cross border insolvency protocol : Report
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Jet Airways becomes the first Indian company to undergo insolvency proceedings under the Cross Border Insolvency Protocol along with the Insolvency and Bankruptcy Code of India. Jet Airways will be attending the meetings of the bankrupt airline's Committee of Creditors. The airlines have been declared bankrupt after it failed to pay two European creditors. The Dutch court appointed a bankruptcy administrator for this too.