Zetta Jet Pts. Ltd., a global leader in private international, business and luxury air travel, has announced that the US Bankruptcy Court for the Central District of California approved the US Trustee´s and its joint request to appoint a Chapter 11 trustee, the company said.
The company took this action to ensure a unified direction in the company´s restructuring efforts amidst continued shareholder disputes. The US Trustee´s Office is expected to appoint the Chapter 11 trustee shortly.
The company also announced that to facilitate normal business operations, it has received Court permission to pay a select group of critical vendors in the ordinary course of business for pre-petition debts owed.
The company also said a recent emergency injunction ordered by a Singapore Court to stop the Chapter 11 proceedings was null and void given that a Singapore Court has no jurisdiction in US federal bankruptcy court.
Zetta Jet filed its Chapter 11 bankruptcy petitions on September 15, 2017.