Ince & Co partner advises Shun Tak Holdings on acquiring share in low-cost carrier
Ince & Co partner David Beaves and solicitor Tonny Lee recently advised Hong Kong’s Shun Tak Holdings Limited on acquiring a one-third share of Jetstar, a Hong Kong low-cost carrier, for US$66m.
Set up in March 2012, the airline is a joint venture between China Eastern Airlines and Qantas’s Jetstar Group, and has a capitalisation of HK$1.5bn.
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Mr Justice Field, sitting in the Commercial Court, has had to consider the meaning of the phrase ‘proper and business-like’.
Swallowfalls v Monaco Yachting provides further support for the construction of contracts in the manner most consistent with ‘commercial common sense’.