Aviation, Vedder Price LLP updates

United Kingdom

Contributed by Vedder Price LLP
Necessary regulation or the government droning on?
  • United Kingdom
  • August 23 2017

The Department for Transport recently published its response to a public consultation concerning the safe use of unmanned aircraft systems in the United Kingdom. Both in the consultation and the response, it is clear that the government's focus is on ensuring safety, particularly relating to operational issues in the leisure market. However, the response also provides insight into the direction of the government's policy as it affects commercial operators and its determination to develop world-class systems.

Commitment letters not to be taken lightly: how committed are we?
  • United Kingdom
  • December 14 2016

At the outset of a transaction, parties often use a commitment letter, letter of intent or memorandum of understanding to set out the principal terms on which they wish to establish their commercial relationship. The principal terms are often non-binding in nature. The High Court recently referred to an objective test established by the Supreme Court to determine whether a party's intentions were accurately reflected in its initial documentation.

Unjustly enriched seller of aircraft asset: mistakes in sale and purchase transactions
  • United Kingdom
  • September 07 2016

The trading of aircraft assets between industry participants is as dynamic, legally complex and fraught with intense negotiation as ever. Although transacting parties go to great lengths to protect their pre and post-closing positions by attempting to account for all eventualities in the applicable transaction documentation, mistakes that fall outside the protective ambit of such documentation can still occur.

PK AirFinance v Alpstream: did Court of Appeal hit the mark on mortgagees' duties?
  • United Kingdom
  • March 09 2016

The Court of Appeal has delivered its judgment on the appeal by PK AirFinance and GECAS against the Commercial Court's decision in Alpstream v PK AirFinance. The judgment provides a welcome clarification of duties owed by mortgagees to financiers and lessors.

Cape Town Convention and Aircraft Protocol enters into force
  • United Kingdom
  • November 18 2015

The Cape Town Convention and Aircraft Protocol recently entered into force in the United Kingdom. The disapplication of the historically vexed lex situs rules in the context of UK Cape Town interests is a welcome step, as it means that English law and jurisdiction are likely to be the best choice for any mortgage or bill of sale on a transaction involving parties situated in the European Union.

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