Dynamic Files for Voluntary Chapter 11

摘要

DYNAMIC INTERNATIONAL Airways has filed a voluntary Chapter 11 petition with the United States Bankruptcy Court in the Middle District of North Carolina, Greensboro Division. The airline says its decision follows litigation matters related to Hajj flights the car- rier operated for Air India in 2014. Added to this was a judgment in the United States District Court for the Middle District of North Carolina affirming an arbitration award against the airline, issued by the Canadian Arbitration Association in April. It determined the carrier was in breach of contract by failing to pay commissions to BKP Enterprises relating to the Hajj flights. "While the debtor has filed a notice of appeal and intends to challenge the judg- ment and award, Dynamic International has no immediate recourse to stay the judgment and has determined the commencement of the Chapter 11 case is necessary," the charter operator said in a statement.