Martin Consulting LLC filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bird ExecuJet Airport Services Private Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
Martin Consulting LLC (Operational Creditor) and Bird ExecuJet Airport Services Private Limited (Corporate Debtor) entered into a Consulting Agreement on 01.03.2018.
The Operational Creditor was engaged to develop, establish, and deploy specialist capability for design and development of an apron, a business/corporate aviation terminal.
The agreement provided for payment on a cost-plus basis with a 15% mark-up and an additional 15% success fee.
The Operational Creditor alleges that the Corporate Debtor delayed monthly payments and served a notice of default dated 12.09.2018.
The Corporate Debtor made a part payment of Rs.5,00,000 in January 2019.
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Martin Consulting LLC and Bird ExecuJet Airport…
Operational Creditor…
Martin Consulting LLC filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bird ExecuJet Airport Services Private Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
Martin Consulting LLC (Operational Creditor) and Bird ExecuJet Airport Services Private Limited (Corporate Debtor) entered into a Consulting Agreement on 01.03.2018.
The Operational Creditor was engaged to develop, establish, and deploy specialist capability for design and development of an apron, a business/corporate aviation terminal.
The agreement provided for payment on a cost-plus basis with a 15% mark-up and an additional 15% success fee.
The Operational Creditor alleges that the Corporate Debtor delayed monthly payments and served a notice of default dated 12.09.2018.
The Corporate Debtor made a part payment of Rs.5,00,000 in January 2019.
…Martin Consulting LLC and Bird ExecuJet Airport…
Operational Creditor…