Federal Court of Australia
Federal Court of Australia
VB Leaseco Pty Ltd (administrators appointed) v Wells Fargo Trust Company, National Association (trustee) [2020] FCAFC 168 Appeal from: Wells Fargo Trust Company, National Association (trustee) v VB Leaseco Pty Ltd (administrators appointed) [2020] FCA 1269
File number(s): NSD 994 of 2020
Judgment of: MCKERRACHER, O'CALLAGHAN AND COLVIN JJ
Date of judgment: 7 October 2020
Catchwords: AVIATION – International Interests in Mobile Equipment (Cape Town Convention) Act 2013 (Cth) – Convention on International Interests in Mobile Equipment – Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment – Vienna Convention on the Law of Treaties Arts 31, 32 AVIATION – construction of Art XI of the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment concerning remedies on insolvency – occurrence of insolvency-related event – insolvency administrator appointed to appellant lessees – meaning of "possession" and "give possession of the aircraft object to the creditor" within the meaning of Art XI(2) of the Protocol (Alternative A) – whether "give possession" requires delivery by insolvency administrators of certain aircraft objects, including aircraft jet engines, to the respondent lessors in the United States in accordance with lease agreements – or whether giving possession effected by insolvency administrator disclaiming aircraft objects or by giving lessors the opportunity to take possession
Legislation: Air Services Act 1995 (Cth) Convention on International Interests in Mobile Equipment Arts 1, 2(2)(c), 5, 5(1), 6(1), 6(2), 8, 10, 12, 13, 30, 39 Corporations Act 2001 (Cth) ss 437A, 437B, 437D, 440B, 443B(3) International Interests in Mobile Equipment (Cape Town Convention) Act 2013 (Cth) Louisiana Civil Code Art 3421 Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment Arts IX, IX(3), XI, XI(2), XI(5), XI(5)(a), XI(7), XI(9), XI(10), XI(11), XI(12), XII Vienna Convention on the Law of Treaties Arts 31, 31(1), 32
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