WILLEMSTAD – It looks like the end of InselAir has been postponed. The court ruled last Friday at the end of the day that the approval of the creditors' agreement will be postponed until 15 January.
With this postponement, InterCaribbean still has more than two weeks to convince its bank to issue a guarantee for the investment obligation in the ailing Curaçao airline. Earlier that day, the court ordered InterCaribbean to pay a fine of 500,000 dollars if no guarantee statement is issued.
The agreement approved by InselAir's creditors on December 4 provides for InterCaribbean to make available more than 11 million dollars to the creditors over a period of nine years.