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Dado Ruvic - 1 Lessors - 1 Kelley Smith - 1 Avolon - 1 Smith - 1 Denis McDonald - 1 we're - 1 Peter Juhas - 1
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6 mentions found


☆ Aircraft lessors set for June 2024 trial over Russia insurance claims
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Dado Ruvic/Illustration/File photoDUBLIN, July 31 (Reuters) - Some of the world's largest aircraft lessors and insurers are aiming to be ready to go to trial in June 2024 over contested insurance claims for aircraft stuck in Russia, a lawyer for one of the lessors said on Monday. Those steps include finding a venue large enough for the 180 attendees Smith said were expected at the trial each day. Justice Denis McDonald told a packed hearing last month that no court in Ireland was large enough to hear the case. The world's biggest aircraft lessor, Irish-based AerCap (AER.N), is pursuing its insurance claims through London's High Court. AerCap's Chief Financial Officer said on Monday that it continued to have discussions with Russian insurers on a potential settlement regarding some of its aircraft stranded in Russia.
Persons: Dado Ruvic, Lessors, Kelley Smith, Avolon, Smith, Denis McDonald, we're, Peter Juhas, Padraic Halpin, Mark Potter Organizations: SMBC Aviation, REUTERS, BOC Aviation, HK, CDB Aviation, Nordic Aviation Capital, Carlyle Aviation Partners, world's, Thomson Locations: Russian, DUBLIN, Russia, Ukraine, Ireland, London's
☆ India stalls lessors' requests to reclaim Go First planes due to asset freeze
  + stars: | 2023-05-30 | by ( Aditya Kalra Aditi Shah | Aditya Kalra | Aditi Shah | ) www.reuters.com   time to read: +2 min
NEW DELHI, May 30 (Reuters) - India's aviation watchdog has put on hold requests from lessors to repossess planes from Go First, as the airline's bankruptcy process imposes a freeze on assets which supersedes such requests, the regulator said in a court filing seen by Reuters. Lessors of Go First have locked horns with Go First and India's Directorate General of Civil Aviation (DGCA) to reclaim its planes for missed payments, filing as many as 40 requests with the watchdog to allow repossession. Go First's lessors include Standard Chartered's Pembroke Aircraft Leasing, SMBC, CDB Aviation's GY Aviation Leasing and BOC Aviation. India has ratified the treaty but the DGCA argued there was no local legislation enforcing it, rendering it ineffective. The DGCA filing said local laws "prevail over provisions of any international treaty that India is a signatory to".
☆ India's Go First airline gains bankruptcy protection, lessors' woes deepen
  + stars: | 2023-05-10 | by ( Arpan Chaturvedi Aditi Shah Aditya Kalra | Arpan Chaturvedi | Aditi Shah | ) www.reuters.com   time to read: +4 min
In granting bankruptcy protection, the National Company Law Tribunal in New Delhi ordered a moratorium on Go First's assets and leases. But bankruptcy protection supersede lessors' repossession requests. Go First's lessors also include SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Its voluntary seeking of bankruptcy protection to renegotiate contracts and debt marks a first for an Indian airline, and Chief Executive Officer Kaushik Khona, who was present as the order was read, hailed the tribunal's decision as "historic". The Indian tribunal said the new resolution professional will take "all necessary steps including the execution of the arbitral award".
☆ India's Go First airline gains bankruptcy protection, moratorium placed on leases
  + stars: | 2023-05-10 | by ( Arpan Chaturvedi Aditi Shah Aditya Kalra | Arpan Chaturvedi | Aditi Shah | ) www.reuters.com   time to read: +3 min
This is the first time an Indian airline has voluntarily sought bankruptcy protection to renegotiate contracts and debt. But if bankruptcy protection is granted, those laws supersede lessors' repossession requests. Go First's lessors include major global names such as Jackson Square Aviation, SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Two advisers to some lessors said there were major concerns that the granting of bankruptcy protection for Go First could force the lessors to embark on lengthy litigation to repossess planes. The person added that the development could lead to higher lease rates for Indian airlines in the future.
☆ India to decide on Go First bankruptcy, lessors seeking planes fear impact
  + stars: | 2023-05-10 | by ( Aditi Shah Aditya Kalra | Aditi Shah | Aditya Kalra | ) www.reuters.com   time to read: +4 min
India has made it easier for lessors to take back planes if airlines default on payments after joining an international treaty known as the Cape Town Convention. But lack of a proper legislation to enforce the treaty means India's bankruptcy law will supersede lessors' repossession requests, lawyers said. Go First's lessors include major global names such as Jackson Square Aviation, SMBC Aviation Capital and CDB Aviation's GY Aviation Leasing. Bigger rivals IndiGo (INGL.NS) and Tata Group's Air India are charting major expansion plans with hundreds of new planes on order as domestic air travel in India surpasses pre-pandemic levels. Air India did not immediately respond.
☆ Factbox: Aircraft lessors sue insurers for $8 billion over trapped Russian planes
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +4 min
LONDON, Nov 30 (Reuters) - Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow's invasion of Ukraine. Lessors argue the aircraft are covered by policies against war or theft, but insurers point out the planes are undamaged and might yet be returned. Here is a list of claims filed against insurers in London, Dublin and the United States, with the most recent filing listed first. SMBC AVIATION CAPITAL VS LLOYD'S OF LONDONSMBC filed a claim against Lloyd's of London (SOLYD.UL) in the Irish High Court on Nov 28. BOC AVIATION VS 16 INSURERSBOC Aviation has begun legal action against 16 insurers, according to an Irish High Court filing on Nov 3.
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