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penalty clauseaircraft finance JOLCOrelief from forfeiture
FW Aviation v VietJet Aviation
[2025] EWHC 1920 (Comm)
Key Principle
In the FW Aviation v VietJet JOLCO aircraft-finance litigation, the Commercial Court (this judgment of 23 July 2025 dealing with VietJet's misleading submissions about steps taken to satisfy the judgment debts) reflects the substantive ruling that early-termination/termination-sum provisions in a JOLCO lease were enforceable and not penalties, and that VietJet's defaults entitled the financier to terminate and repossess.
Area of Law
General
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