{"id":114072,"date":"2020-07-25T09:50:59","date_gmt":"2020-07-25T13:50:59","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=114072"},"modified":"2020-07-25T09:50:59","modified_gmt":"2020-07-25T13:50:59","slug":"court-appoints-administrator-to-take-control-of-liat","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/court-appoints-administrator-to-take-control-of-liat\/","title":{"rendered":"Court appoints Administrator to take control of LIAT"},"content":{"rendered":"
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(CNS)<\/strong><\/p>

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The Gaston Browne administration on Friday took a decisive legal step in pursuit of its goal to reorganize regional airline LIAT.<\/p>\n

The government was successful in a petition in the Eastern Caribbean Supreme Court to pave the way for the appointment of an Administrator, who will be key in restructuring the airline company.<\/p>

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Prime Minister Browne\u2019s nominee, Guyana-born Cleveland Seaforth of BDO, was appointed as administrator.<\/p>

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With Seaforth\u2019s appointment as Administrator, a stay has been put on a creditors meeting, which had been scheduled for July 31.<\/p>\n

The government\u2019s case was led by senior counsel Anthony Astaphan in the Eastern Caribbean Supreme Court.<\/p>

\"\"<\/a><\/div>\n

\u201cIt was a petition to begin the process of reorganization by the appointment of an Administrator and a stay on all proceedings against LIAT\u00a0\u2014\u00a0civil, liquidation, proceedings by the shareholders, creditors\u00a0\u2014 which would give the Administrator, who was also appointed by the court [the power] to take a deep look at LIAT and to make a recommendation one way or the other,\u201d Astaphan explained.<\/p>\n

\u201cThe next step would be the Administrator assuming control of the assets and management of LIAT, and to begin the exercise imposed on him by the legislation of the amendments that were made recently.<\/p>

\"\"<\/a><\/div>\n

\u201cIt is a very, very important step because it gives the Prime Minister the opportunity to be able to work with the Administrator, and for the administrator to take a look at everything to be able to come to the conclusion whether LIAT 1974 Ltd, of one sort of the other, would be able to be reorganized and to be back in the sky,\u201d Astaphan added.<\/p>

\"\"<\/a><\/div>\n

LIAT was represented by lawyer Stacy Roach, who did not object to the petition or the appointment of the Administrator.<\/p>\n

The court was clear that the stay includes the shareholders agreement to liquidate, and also the creditors meeting that was scheduled for July 31.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

(CNS) The Gaston Browne administration on Friday took a decisive legal step in pursuit of its goal to reorganize regional airline LIAT. The government was successful in a petition in the Eastern Caribbean Supreme Court to pave the way for the appointment of an Administrator, who will be key in restructuring the airline company. Prime […]<\/p>\n","protected":false},"author":3,"featured_media":113764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-114072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCourt appoints Administrator to take control of LIAT - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/court-appoints-administrator-to-take-control-of-liat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court appoints Administrator to take control of LIAT\" \/>\n<meta property=\"og:description\" content=\"(CNS) The Gaston Browne administration on Friday took a decisive legal step in pursuit of its goal to reorganize regional airline LIAT. The government was successful in a petition in the Eastern Caribbean Supreme Court to pave the way for the appointment of an Administrator, who will be key in restructuring the airline company. 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