Select your Top Menu from wp menus
  • Instagram
Challenge Air attaches Air Namibia assets

Challenge Air attaches Air Namibia assets

Staff Reporter

 

LAWYERS for Challenge Air were successful in their bid to recover money owed to them by Air Namibia after a High Court Judge granted a writ of execution order to attach Air Namibia’s moveable properties and goods, to allow for its auctioning and ultimately secure payment of N$107 million.

 

This is after the government failed to meet the Thursday deadline to pay the first instalment of N$107 million to Challenge Air as ordered by the High Court.

 

The airline was ordered to pay a total of N$9.9 million Euros, which is approximately over N$160 million.

 

This is amidst the government’s attempts to liquidate the airline before the due date of payment, which according to reports have failed as the government could not de-register the airline on time.

 

“You are hereby directed to attach and take into execution the moveable property and goods of Air Namibia Properties Limited of No. 27-29, at Dr Kuls Street, Windhoek. The attached moveables should be auctioned to raise 5,8 million Euros. The interest accruing from the 5,8 million Euros will be calculated at the rate of 20% effective 29 January 2021 until the debt is paid up.” the court order reads.

 

Related posts