TEGOS represents Danish aircraft lessors NAC Aviation 2 and NAC Aviation 3 in connection with the insolvency of Nordic Aviation Group AS (Nordica) and Regional Jet OÜ, assisting with the repossession of three ATR 72-600 aircraft and the pursuit of creditor claims.
Following the announcement of the companies’ insolvency, TEGOS advised the clients on terminating the relevant lease agreements, repossessing the aircraft before the commencement of bankruptcy proceedings, and completing their deregistration from the Estonian Aircraft Register. The work required extensive coordination with the Aviation Department of the Estonian Transport Administration and a detailed review of the underlying aircraft documentation.
TEGOS also represents the clients throughout the bankruptcy proceedings, including the submission and defence of creditor claims and other insolvency-related matters. The firm’s mandate currently includes representing the clients as creditors in the bankruptcy proceedings of Regional Jet OÜ.
The matter is significant due to its cross-border nature and its connection with the insolvency of one of the Baltic region’s largest aviation groups.
