Wells Fargo Trust Company, National Association (trustee) v VB Leaseco Pty Ltd (administrators appointed) [2020] FCA 1269 In a significant decision for aircraft leasing and finance, the Federal Court of Australia last week provided important guidance on the meaning of the phrase ‘give possession of the aircraft object to the creditor’ as used in Article … Continue Reading
Speed read A party should not assume that the failure of its counterpart to provide or satisfy conditions precedent gives rise to an automatic right to terminate or not perform a contingent obligation, where it could have obtained or satisfied those conditions precedent itself. Summary The recent Odyssey Aviation Ltd v GFG 737 Limited[1] in … Continue Reading
In a very significant, closely watched aviation product liability preemption case in the U.S. Court of Appeals for the Third Circuit, Sikkelee v. Precision Airmotive Corp., et al., No. 17-3006, 2018 WL 5289702 (3d Cir. Oct. 25, 2018), the court recently held that state law claims against type certificate holders can go forward unless the … Continue Reading
