Absolute Payment Obligations, Frustration & Stay of Execution - Latest Developments
By EsqSocial Corporation 11/05/21
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 frustration. Whilst this specific dispute relates to overdue aircraft lease payments and particular government restrictions on the use of Boeing 737-Max 8 aircraft, the Court’s findings will be interesting to others grappling with debtors seeking to rely on Covid-19 related...
By: Bryan Cave Leighton Paisner