Saturday, Aug 20, 2022
×
Outlook.com
×

SpiceJet Settles Dispute With Credit Suisse

The settlement and consent terms, executed on May 23, have also been filed before the Supreme Court for final orders

undefined
File Photo

Domestic no-frills carrier SpiceJet said on Wednesday said it has signed and concluded the settlement and consent terms with Credit Suisse in a pending dispute with the latter.

The settlement and consent terms, executed on May 23, have also been filed before the Supreme Court for final orders, the airline said in a statement. 

The settlement involves payment of a certain amount upfront and the balance amount over a mutually agreed timeline, SpiceJet said without giving specific details. 

The airline said it had already provided a bank guarantee of $5 million under the direction of the Madras High Court in the matter and there is no adverse financial liability on the company.
 

Advertisement
Advertisement
Advertisement