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Breach of Contract › Aircraft

BCLP

High Court considers repudiatory breach and wrongful termination in an aircraft lease contract dispute

BCLP on

The High Court recently considered the termination of an aircraft lease to purchase contract between OCA and Novans (an aircraft broking and consultancy company). In finding for the Claimant, the judgment considers the thorny...more

BCLP

Absolute Payment Obligations, Frustration & Stay of Execution - Latest Developments

BCLP on

In a decision handed down at the end of April, the Commercial Court, in Wilmington Trust SP Services (Dublin) Ltd and others v Spicejet Ltd [2021], has provided guidance on the English law doctrines of illegality and...more

Robins Kaplan LLP

Financial Daily Dose 9.9.2020 | Top Story: Luxury-Goods Giant LMVH Pulls Out of $16 Billion Deal to Acquire Tiffany & Co.

Robins Kaplan LLP on

Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement....more

Allen Matkins

Time Is Of The Essence Clause Does Not Necessarily Result In Breach For Late Performance

Allen Matkins on

Rugger Investment Group LLC contracted to sell an airplane to Magic Carpet Ride, LLC (MCR). Rugger deposited a lien release into escrow 8 days late. MCR succeeded in obtaining summary judgment on its breach of contract claim....more

Vedder Price

A Bird on the Ground Is Worth One in the Sky: Lessons from ALC v. Far Eastern Air Transport Corp.

Vedder Price on

On May 22, 2019, the U.S. District Court for the Central District of California decided Air Lease Corporation; ALC B378 41345, LLC; and ALC B378 37772 v. Far Eastern Air Transport Corp. The case was based on an allegation...more

Vedder Price

Buyer Beware: Court Upholds Punitive Damages Waiver in Case Alleging Fraud for "New" Aircraft Sale

Vedder Price on

In a recent decision, the Texas Supreme Court upheld a contractual waiver of punitive damages despite a finding of fraud by the seller in the sale of a supposedly new aircraft that instead contained used and repaired engines....more

Winstead PC

Texas Supreme Court Holds That A Limitation-Of-Liability Clause Eliminated A Punitive Damage Claim Where A Fraud Plaintiff...

Winstead PC on

In Bombardier Aero. Corp. v. Spep Aircraft Holdings, a plaintiff who had purchased an aircraft sued the defendant for fraud associated with representations regarding whether the aircraft was new or used. No. 17-0578, 2019...more

Holland & Knight LLP

Citizenship of Aircraft Owner Trustee Establishes Federal Court Diversity Jurisdiction

Holland & Knight LLP on

The Southern District of New York has confirmed that when the trustee of a non-citizen aircraft trust brings suit in its own name, the citizenship of that trustee may be used to establish diversity jurisdiction in federal...more

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