20 Dec 2021
Assisting a Cypriot company purchasing and later leasing one Bombardier Global Express aircraft used for private operations
20 Dec 2021
The law firm has represented a Cypriot company purchasing and later leasing one (1) Bombardier Global Express aircraft used for private operations. The law firm acted as a major coordinating legal counsel in this transaction and drafted all aircraft acquisition, leasing, subleasing and security documentation. As usual, transactional documents have been governed by English laws and included involvement of a leading US escrow agent. The value of the transaction exceeded US$5,000,000 dollars and involved German, Latvian, Cypriot, US, and San-Marino jurisdictions.
After the outbreak of COVID-19 pandemic, acquisition of aircraft for private operations has been booming in this region. Our experience confirms that San Marino aircraft registry is often chosen when the aircraft have not been imported into the EU. Owners tend to apply for temporary admission regarding operations in the EU.
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