06/23/2026
Legal Alert: The English Commercial Court’s decision in CIT Group Finance (Ireland) Unlimited Company v SpiceJet Limited [2026] EWHC 1277 (Comm) confirms that aircraft lessors can enforce contractual reversion clauses that revive original lease liabilities where a lessee defaults under a restructuring or early termination arrangement. The ruling reinforces the enforceability of conditional redelivery mechanisms and makes clear that physical redelivery and acceptance certificates do not necessarily bring liabilities to a final end.
Our latest legal alert explores the Court’s analysis of reversion clauses, acceptance certificates, estoppel arguments, and the implications for aircraft lease workouts and restructurings.
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Authored by: Gordon McAllister, David Russell, Patrick Swain, and Mark Turnbull