Relief against forfeiture under a lease agreement is available, ‘provided that the object of the transaction and of the insertion of the right to forfeit for non-payment of money is essentially to secure the payment of that money or is security for the attainment of a specific result which can be achieved through the courts.’
Citations:
[2004] EWHC 671 (Comm)
Jurisdiction:
England and Wales
Cited by:
Cited – Celestial Aviation Trading 71 Ltd v Paramount Airways Private Ltd ComC 4-Dec-2009
The claimant sought summary judgment for recovery of three aircraft (valued at US$36m each) leased to the defendant after non-payment of instalments. The defendant said that the default was based on a demand for supplementary rents which had not . .
Lists of cited by and citing cases may be incomplete.
Contract
Updated: 15 May 2022; Ref: scu.381839