Creditors to submit claims amid liquidation of Shaheen Air
Creditors of Shaheen
Air International Limited have been directed to submit proof of their outstanding
debts and claims as part of the airline’s ongoing liquidation proceedings,
following an order of the Islamabad High Court (IHC).
The notice, issued in connection with Companies Original No. 05 of
2021, states that the Islamabad High Court has ordered the winding up of M/s
Shaheen Air International Limited under the applicable provisions of the
Companies Act, 2017.
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The court has appointed Muhammad Sohaib, Advocate Supreme Court, as
the company’s Official Liquidator. According to the notice, the liquidator has
taken control of the airline’s assets, properties, records, accounts and
management for the purpose of administering and completing the liquidation
process in accordance with the law.
Creditors Given Deadline
All creditors of Shaheen Air International Limited have been instructed to
submit proof of their respective debts or claims to the Official Liquidator by
September 11, 2026.
Claims may be submitted by hand at the Official Liquidator’s office or
sent by registered post to:
Office No. 322, Main Nazim-ud-Din Road, F-11/1, Islamabad
The notice also provides an email channel for submission of claims.
Creditors are required to submit an Affidavit of Proof in the
prescribed Form-42 under the Companies (Court) Rules, 1997. The submission
must contain complete details of the claim, including the creditor’s name and
address, the amount and nature of the debt, supporting documents and evidence,
details of any security held, and any priority claimed under Section 390 of the
Companies Act, 2017.
Claims Could Be Excluded
The Official Liquidator has warned that creditors who fail to submit proof
of their debts or claims within the prescribed period may be excluded from
participating in any distribution or other benefits arising from the
liquidation proceedings.
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Creditors who have submitted claims may also be required to attend an
investigation or verification process if directed by the Official Liquidator.
In such cases, creditors may appear personally or through an authorized counsel
or representative and could be required to provide additional documentation or
evidence supporting their claims.
Creditors' Meeting Set for September 19
A meeting of creditors has also been scheduled for Saturday,
September 19, 2026, from 11:00 a.m. to 2:00 p.m. at the office of the
Official Liquidator in F-11/1, Islamabad.
Creditors who have submitted proof of their claims are required to attend
the meeting either personally or through a duly authorized representative or
counsel.
According to the notice, the meeting will consider the company’s statement
of affairs, the appointment of a Committee of Inspection, and other
matters relating to the liquidation proceedings that may be placed before the
creditors.
Background
Shaheen Air International was one of Pakistan’s prominent private airlines
before its operations came to an end amid financial and regulatory
difficulties. The airline’s liquidation proceedings now form part of a formal
legal process through which its outstanding liabilities, assets and creditor
claims are being addressed.
The latest notice represents an important step in that process, giving
creditors an opportunity to formally establish their claims before the
liquidation proceeds further.
Creditors seeking additional information have been directed to contact Muhammad
Sohaib, Advocate Supreme Court, Official Liquidator of Shaheen Air
International Limited, at the Islamabad office listed in the notice.
Source: Notice