Conyers advises Turbine Engines Securitization on aircraft engine pool
Conyers Dill & Pearman has acted for Turbine Engines Securitization in relation to a pool of 32 aircraft engines and the issuance of $275m (£170m) series 2013-1A fixed-rate notes, $30m series 2013-1B fixed-rate notes and an e-certificate.
The transaction was backed by leases to 15 airlines in eight countries and is Conyers’ second Bermuda Aviation ABS to close in 2013.
Neil Henderson, Angela Atherden and Alexandra Macdonald of Conyers’ Bermuda office advised on the matter, working alongside Milbank, Tweed, Hadley & McCloy, Shearman & Sterling and Orrick, Herrington & Sutcliffe.
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Cayman Islands Law Update: the Exempted Limited Partnership Bill and the Contracts (Rights of Third Parties) Bill
Following extensive consultation in both the public and private sectors, the Exempted Limited Partnership Bill 2014 was gazetted on 21 February 2014.
The court looked at the issue of whether a stranger to a trust, who dishonestly assists in a breach of trust, is a ‘trustee’ within the meaning of s21(1)(a) of the UK Limitation Act 1980.