India's bankruptcy reform has failed to live up to its billing. Here's why Go First needs a rescue

Insolvent airline Go First will be a India of whether the country is ready to rebalance creditors' rights and shareholders' privileges.

Creditors’ recovery rates on soured advanc Bloomberg Opinion for the the seven years years.

If the court can’ Indian kly revive Go Fi Narendra Modi rand is now known, the risk is that it will be grounded forever.

Go Fir 2016 as so far been current with repayments to banks, and has only recently defaulted to lessors and operational creditors.

Had any of its debt been nonperforming $200 billion efore the resolution plan kicked in, the Wadia Group would have been ruled out as a prospective bidder.

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