The volume of claims against bankrupt Estonian state-owned airline Nordica has risen sharply since bankruptcy was declared last fall, reaching €85 million.
Most of Nordica’s assets consist of a claim against its subsidiary, Regional Jet.
When the Harju County Court declared Nordic Aviation Group bankrupt at the end of January, claims were initially estimated at €34 million. By the end of March—the deadline for submitting claims—that figure had more than doubled.
One of Nordica’s bankruptcy trustees, Tarmo Peterson, a partner at the law firm RASK, said: “March 28 was the deadline for creditors to submit their claims. The total amount of claims submitted in the Nordica proceedings was €85 million. This sum has increased primarily due to damage claims arising from various breaches of contract.”
Peterson added the final amount depends on how much can be recovered from Regional Jet’s bankruptcy proceedings.
More read: ERR.EE