Mortgagee sales: a tale of duties, desires, conspiracies and wilful neglect

This was a typical aircraft financing that involved a complex series of related transactions, but the basic facts can be shortly stated. GECAS and PK were members of the same group of companies. PK had financed various aircraft which where owned by various entities in a Russian group NRC.

There was a default in the sums due to PK. PK enforced its security over the aircraft eventually selling to a GECAS entity. GECAS had a prospective new lessee in Jet Blue a potentially valuable new customer for GECAS. NRC said they lost $11m (£7m) as a result…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

  • Money 317

    Crunch boom

    Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town

View more analysis from The Lawyer


5 New Street Square

Turnover (£m): 228.00
No. of Lawyers: 860
No. of Lawyers (Asia Pacific): 79
Offices (Asia Pacific): 3