Gesner Investments Ltd v Bombardier Inc [2010] EWHC 2643 (Comm) (22 October 2010)

Gesner Investments Ltd v Bombardier Inc [2010] EWHC 2643 (Comm) (22 October 2010)

The right to terminate after 90 days of Non-Excusable Delay under Article 8.4 must be exercised pursuant to Article 9, specifically by following the procedure in Article 9.2, which requires notice and a 10-day cure period. The claimant was not entitled to immediate termination without following this procedure.

Citation
[2010] EWHC 2643 (Comm)
Parties
Claimant: Gesner Investments Limited; Defendant: Bombardier Inc
Jurisdiction
England and Wales
Judgment Date
22 October 2010
Procedural Posture
Commercial Contract Dispute (summary Judgment Application) / High Court (commercial Court) Summary Judgment Application
Outcome
Application dismissed
Legal Topics
Contract Interpretation, Termination of Contract, Liquidated Damages, Interest on Repayments
Contract Law Commercial Law Contract Interpretation Termination of Contract Liquidated Damages Interest on Repayments

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Parties

Gesner Investments Limited

Claimant

Bombardier Inc

Defendant

Procedural Posture

Commercial Contract Dispute (summary Judgment Application) / High Court (commercial Court) Summary Judgment Application

Legal Issues

  1. 1 Whether the claimant was entitled to terminate the Aircraft Purchase Agreement immediately after 90 days of Non-Excusable Delay without following the procedure in Article 9.2
  2. 2 Whether the interest rate on reimbursed payments is fixed or variable under the contract

Ratio Decidendi

The right to terminate after 90 days of Non-Excusable Delay under Article 8.4 must be exercised pursuant to Article 9, specifically by following the procedure in Article 9.2, which requires notice and a 10-day cure period. The claimant was not entitled to immediate termination without following this procedure.

Court Disposition

Application dismissed