Virgin administrators’ approach upheld in world-first decision on key provision of

The High Court today gave the first decision, globally, of a Court of ultimate appeal on the question of the construction of Article XI(2) of the Cape Town Convention's protocol on Matters Specific to Aircraft Equipment (Aircraft Protocol), which is of seminal importance for financiers and lessors of aircraft property, insolvency administrators globally. The High Court judgment advances the development of the law on the Cape Town Convention and its Aircraft Protocol (Wells Fargo Trust Company, National Association (As Owner Trustee) & Anor v VB Leaseco Pty Ltd (Administrators Appointed) & Ors [2022] HCA 8; Clayton Utz acted for the Administrators).