Zaiwalla & Co Instructed in High Court Challenge to £1 Billion Bankruptcy Order
Zaiwalla & Co Partners Leigh Crestohl and Kartik Mittal, along with Associates Stephanie Limaco and Cem Rifat, appeared in the High Court last week for a four-day hearing, representing Indian businessman Vijay Mallya in his challenge to a 2021 UK bankruptcy order. The order, issued in favour of a consortium of 12 Indian banks led by the State Bank of India, was based on claims of unpaid loans exceeding £1 billion.
Mallya, the former owner of Kingfisher Airlines and United Breweries Group, argues that the bankruptcy order was unwarranted as the banks have already recovered assets that should have settled the debt. His legal team is seeking to overturn the ruling, contending that the current bankruptcy status does not accurately reflect the financial reality of the case.
The hearing marks the latest development in a long-running legal matter, with Zaiwalla & Co continuing to represent Mallya in this complex cross-border dispute.
