ACG Acquisition XX LLC v Olympic Airlines SA

ACG Acquisition XX LLC v Olympic Airlines SA

Olympic has a real prospect of establishing a claim for breach of delivery condition under the lease, and acceptance via Certificate of Acceptance does not bar such claims. Olympic's claim may defeat ACG's claim for rent due to total failure of consideration. Security for costs is not appropriate given the linkage between claim and counterclaim.

Parties
Applicant/claimant: ACG Acquisition XX LLC; Respondent/defendant: Olympic Airlines SA
Jurisdiction
England and Wales
Judgment Date
21 April 2010
Procedural Posture
Commercial Lease Dispute / Summary Judgment Application
Outcome
ACG's applications for summary judgment and security for costs dismissed.
Legal Topics
Lease Agreements, Aircraft Delivery Conditions, Summary Judgment, Security for Costs, Failure of Consideration, Set Off, Liquidation
Contract Law Commercial Law Lease Agreements Aircraft Delivery Conditions Summary Judgment Security for Costs Failure of Consideration Set Off +1 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 11 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

ACG Acquisition XX LLC

Applicant/claimant

Olympic Airlines SA

Respondent/defendant

Procedural Posture

Commercial Lease Dispute / Summary Judgment Application

Legal Issues

  1. 1 Whether Olympic Airlines can claim for breach of delivery condition under the lease
  2. 2 Whether Olympic's claim can defeat ACG's claim for rent
  3. 3 Whether there are compelling reasons for trial

Ratio Decidendi

Olympic has a real prospect of establishing a claim for breach of delivery condition under the lease, and acceptance via Certificate of Acceptance does not bar such claims. Olympic's claim may defeat ACG's claim for rent due to total failure of consideration. Security for costs is not appropriate given the linkage between claim and counterclaim.

Court Disposition

ACG's applications for summary judgment and security for costs dismissed.

Orders

  • Costs summarily assessed at £44,000 payable by Claimant to Defendant.