Aviation firm wound up
A High Court judge has ordered the winding up an Irish aviation leasing consulting company over the alleged non-payment of a multimillion-dollar loan owed in relation to the purchase of a luxury jet which the court heard was later used by former Indian Premier League boss Lalit Modi to fly around that country.
The 13-seater Bombardier Challenger 300 was bought with a loan facility of over $15m (€13.4) 11 years ago, the High Court heard, and has been kept at a warehouse at Biggin Hill Airport, London, for the last nine years.
