Aviation LCs
Celestial Aviation Services Ltd. v. UniCredit Bank GmbH, London Branch [2024]
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
2023 Americas LC Law Summit: Executive Summary
For the 24th consecutive year, the Institute of International Banking Law & Practice conducted its one-day Americas Letter of Credit Law Summit.
2023 Americas Standby Forum: Executive Summary
11 October 2023, New York For the 17th consecutive year, the Institute of International Banking Law & Practice conducted its
To What Extent is a Confirming Bank’s Undertaking Independent of the Issuing Bank’s Undertaking to the Beneficiary?
Confirmation to any modern-day documentary credit is an essential risk mitigation tool for a beneficiary that enables it to deal
Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch [2023 EWHC 663]
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch [2023 EWHC 1071]
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
English Court Says Sanctions Did Not Prevent Bank from Paying under LCs
Further to previous reporting (“Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes”, April 2022 DCW 6), the Commercial
Insurers Contest DAE Claim over Aircraft Stranded in Russia
Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay
Aviation Litigation Takes Off, Aircraft Stranded in Russia
Even in the initial weeks following imposition of sanctions after Russia’s February 2022 invasion of Ukraine, the aviation industry
Majority of Jets Leased to Russia Remain Unrecovered
Foreign leasing companies which have supplied Russia’s airline industry with more than half of its 980 aircraft fleet recovered “only a fraction” of the jets
AerCap: USD 2.4b Net Charge on Russian Aircraft Leases
First quarter 2022 financial results released by AerCap, the world’s largest aircraft leasing company, indicate it has recognised a USD 2.4b net charge related to the Russian invasion of Ukraine.
