The increase in loan and lease defaults in the wake of COVID-19 has brought to the forefront numerous legal defenses by borrowers and tenants, such as force majeure, impossibility, and frustration of purpose. Force majeure...more
In a related update, we called attention to risks and pitfalls to lenders and lessors when seeking prepayment premiums and other charges upon the occurrence of an event of default: Lenders Beware: Acceleration May Defeat...more
8/25/2019
/ Aircraft Equipment ,
Bankruptcy Court ,
Calculation of Damages ,
Chapter 11 ,
Contract Terms ,
Creditors ,
Debtors ,
Default ,
Equipment Lease ,
Fair Market Value ,
Lessee ,
Lessor ,
Liquidated Damages ,
Uniform Commercial Code (UCC)