In This Issue:

- Introduction

- All Hat And No Chattel: Life After Cape Town

- Q&A - The Future Of Eca Financing

- Deal Of The Year - An Innovative Engine Re-Securitization

- Pillsbury Case Digests:

- Title To Leased Parts Can Become Imperiled

- It’s Not Fraud If Both Parties Had Eyes Wide Open

- Corporate Veil May Not Shield Lessor’s Shareholders

- Stay Out Of Foreign Courts

- No Coverage For Intentional Damage By Insured

- Once You Take It Back, It’s Yours As-Is

- Liquidated Damages Can Be Unreasonable Penalty

- Notes

Excerpt from Introducing Pillsbury’s Transportation Finance Digest:

Greetings! And welcome to the inaugural edition of Pillsbury’s Transportation Finance Digest.

The goal of this publication is to provide our clients and the industry with probing insights into recent legal Developments affecting transportation finance and leasing. It will be published at least annually.

The law is a heavy business, and we make no bones about the deeply substantive nature of this digest. We have Striven here, however, as we do every day with our clients, to boil the legal principles down to their essence and to Apply them to real-world, commercial situations.

In this edition, my colleague and I argue that the adoption of the Cape Town Convention has rendered lease chattel Paper irrelevant. This is not reflective of any pro-debtor or pro-creditor stance; indeed, Pillsbury represents all its Lessor, bank, airline and OEM clients with equal zeal. This is a pro-industry position, which advocates letting the Cape Town Convention do what is intended: simplify aircraft financing laws and make them more uniform.