CMS has reported that it advised both Gladiator Leasing — a subsidiary of Erste Group Bank AG — and Erse Group Bank itself in Gladiator Leasing’s purchase of an airplane owned by the American company Aircraft 28038.
Aircraft 28038 is a subsidiary of Aircastle, which is a global company involved in purchasing, leasing, and sales of commercial airplanes. Enter Air, a Polish charter airline with four permanent bases of operation — Chopin airport in Warsaw, the airport in Pyrzowice, the airport in Poznan, and the airport in Wroclaw — remains the operator of the airplane. The company leases a total of 14 Boeings, including the airplane belonging to Gladiator Leasing.
The CMS team consisted of Keith Wilson and Evonne Man from the London office as well as Malgorzata Chrusciak and Pawel Kulak from the Warsaw office. The team was responsible for all the legal aspects of the transaction, including arranging for the transfer of the airplane’s ownership and advising on issues related to financing the purchase and on governing law for securing claims under the credit agreement, as well as securing the bank’s claims, registering the new creditor and the securities in the civil aircraft register, and coordinating the successful closing of the transaction.
Aircastle was represented by the McCann Fitzgerald law office in Ireland, which specializes in aircraft finance transactions. The lessee, Enter Air, was supported by the Polish MMM Legal law firm, which provides services to aviation and tourism companies.
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