Friday, March 14, 2014

Dublin-based Star Fly takes action to recover aircraft: Austrian Globeair failed to deliver five aircraft worth more than $9m, it is claimed

A Dublin-based company has brought a legal action aimed at recovering five Cessna Citation Mustang aircraft valued at more than US$9 million leased by it to an Austrian company. 

Star Fly CJM 1 Ltd, with registered offices at Ballsbridge, Dublin, claims its lease agreements with Globeair AG, of Hoersching, Austria, which provides air charters, were validly terminated last November arising from alleged breaches by Globeair of those agreements.

Following the alleged termination, Globeair was asked to deliver up the five aircraft but has failed to do so, it is claimed.

Mr Justice Peter Kelly this week granted an application by Rossa Fanning BL, for Star Fly, to fast-track the proceedings in the Commercial Court.

In its action, Star Fly wants to recover all five aircraft, each valued at about $1.8 million, and also claims it is due sums of about €500,000 and US$400,000 under the lease agreements.