9 March 2021 – Case Update – Applying a Scheme of Arrangement to an Airline in Malaysia

The High Court in Malaysia has recently, on 19 February 2021, granted leave to AirAsia X Berhad, a long-haul low cost airline based in Malaysia, and a sister company of AirAsia (“AirAsia X”), pursuant to the provision of s.366(1) of the Companies Act Malaysia (“Act”), to interalia, convene meetings of certain classes of AirAsia X’s creditors, to consider and approve a scheme of compromise or arrangements to be proposed by AirAsia X.