New York bankruptcy court cautions against liquidated damages provisions that are “invariant to the gravity of the breach.”
Liquidated damages provisions must be based on a “causal link” between the anticipated harm and...more
7/11/2019
/ Aircraft ,
Aircraft Financing ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Commercial Leases ,
Contract Terms ,
Default ,
Executory Contracts ,
Financial Guarantee Requirements ,
Liquidated Damages ,
Reasonableness Factors ,
Unenforceable Contract Terms ,
Uniform Commercial Code (UCC)
In the recent case of Davis v. Elliot Mgmt. Corp. (In re Lehman Bros. Holdings Inc.), 2014 U.S. Dist. LEXIS 48102 (S.D.N.Y. Mar. 31, 2014), the District Court for the Southern District of New York issued a decision barring...more