Olympic Airlines Sa v ACG Acquisition XX Llc: CA 17 Apr 2013

References: [2013] EWCA Civ 369
Links: Bailii
Coram: Rix, Tomlinson, Kitchin LJJ
Ratio: The parties disputed their mutual obligations under aircraft leasing agreements. The insolvent airline said that in signing to accept the condition of the aircraft on delivery, it had not created an estoppel against itself when the aircraft later proved faulty.
Held: The appeal failed, though the result was upheld on different grounds. Aircraft necessarily or accepted and delivered without the full condition being known: ‘the parties know that neither can be absolutely certain of an aircraft’s condition at the point at which the lessee is called upon to accept delivery and the on-going risk. That commercial parties should in such a situation strive to achieve finality in relation to the allocation of risk and responsibility is a commonplace.’ Given the extensive access allowed before acceptance to survey the aircraft, the parties must have intended the condition certificate to be final.
Jurisdiction: England and Wales
This case cites:

  • Cited – Westdeutsche Landesbank Girozentrale v Islington London Borough Council HL (Times 30-May-96, [1996] 2 All ER 961, [1996] AC 669, Bailii, [1996] UKHL 12, [1996] 2 WLR 802, [1996] 5 Bank LR 341)
    Simple interest only was payable on a debt payable for an interest rate swap agreement which had been avoided as ultra vires the council’s powers. The failure of the swap agreement did not place the authority under any fiduciary duty to the . .
  • Appeal from – ACG Acquisition Xx Llc v Olympic Airlines ComC (Bailii, [2012] EWHC 1070 (Comm))
    The parties had contracted for the delivery and lease of a passenger airplane. It was delivered with defects, and the airline went into liquidation. The court was asked whether a claim for damages for defective delivery survives execution by the . .
  • See Also – Olympic Airlines Sa v ACG Acquisition XX Llc CA (Bailii, [2012] EWCA Civ 1659)
    The airline had been placed in liquidation in Greece. The liquidator now appealed against orders for payment of debts and costs to the respondent . .
  • See Also – ACG Acquisition Xx Llc v Olympic Airlines Sa ComC (Bailii, [2010] EWHC 923 (Comm), [2010] 1 CLC 581)
    The claimant had granted a lease of an aircraft to the defendants, undertaking in the agreement that the aircrat would be airworthy. It now claimed payment under the agreement, the defendant saying it had not been airworthy and had to be withdrawn . .

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Last Update: 20 April 2020
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