InvestorQ : What is the favourable judgement that SpiceJet got in the aircraft leasing default case?
Arti Chavan made post

What is the favourable judgement that SpiceJet got in the aircraft leasing default case?

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Rutuja Nigam answered.
3 weeks ago
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There is currently a dispute where Goshawk, an aircraft lessor from Ireland, wants action to be taken against SpiceJet for defaulting on lease payments. However, now a UK court has asked Goshawk and SpiceJet to sit across the table and mediate the payment despite recognising that SpiceJet had defaulted on lease payments.

The UK court refused entertain Goshawk’s $16.2 million suit and refused any action against SpiceJet. Their argument was that it would force SpiceJet into insolvency if pushed to a corner. Aircraft lessors insert the “hell or high water” clause in aircraft lease contracts and this judgement raises questions on whether the clause can override force majeure.

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