Gov’t to intervene in Air Seychelles liquidation case

The government of Seychelles has lodged an application to intervene in the winding-up petition that was filed against Air Seychelles (HM, Mahé) last month by Apex Corporate Trustees on behalf of bondholders at EA Partners II, officials told the Seychelles News Agency.

Joel Camille, a lawyer acting for the government, filed the application to join the ongoing litigation on September 6, and the chief justice of the archipelago’s Supreme Court subsequently set September 13 as the date for the hearing.

The Seychellois government gave assurances last week that it would support the flag carrier during the liquidation case over USD71.5 million of debt that EA Partners II – a Netherlands-based special purpose vehicle (SPV) belonging to former Air Seychelles shareholder Etihad Aviation Group – is chasing.

Audric Adrienne, a lawyer assisting in the petition case, said at a press conference that two other creditors had come forward to join the petition. This was after Apex “put notices in the newspapers and official gazette for possible creditors of Air Seychelles to come forward. Today we informed the court that two of them did so.”

He added: “We have a new application from the government of Seychelles that they are interested in intervening in the case. The court has given us a timeframe to respond to the application. The court also gave Air Seychelles time to have its affidavit in response and they informed the court that they will oppose the application.”

Alain Renaud, principal secretary at the Ministry of Tourism, Civil Aviation, Ports and Marine, told reporters at the Supreme Court that the government was fully behind its now 99%-owned airline and assured that “for the time being there will be no disruption in the daily operations of Air Seychelles.”