Vasil Kisil & Partners has acted as a legal advisor to AWAS, one of the world’s largest aircraft lessors, in connection with the execution of a large-scale agreement for sale to KAHALA of a portfolio of 30 aircraft worth over USD 260 million that have been leased to 16 airlines in 14 countries worldwide.
Vasil Kisil & Partners advised AWAS, the financing banks, and other involved parties on all Ukrainian law matters of the transaction, including corporate and contractual structuring matters, aviation regulations, customs, tax, insurance, currency control, etc. Vasil Kisil & Partners lawyers also provided legal support in the applicability of the Cape Town Convention and international aircraft sale and lease practices in Ukraine. The firm’s lawyers also assisted in the negotiation and execution of the novation agreement pertaining to the aircraft operating lease agreement between AWAS and Ukrainian airlines.
Anna Sisetska, Counsel with Vasil Kisil & Partners, who led the project, said: “The key objectives of this project were to ensure the continuing operation of the aircraft in course of the transaction by the Ukrainian aircraft operator and protect international interests of the aircraft owners and creditors in accordance with the Cape Town Convention, whose practical application still raises certain issues with the State Aviation Authority of Ukraine. We are glad to inform you that VKP’s team has effectively accomplished the client’s objectives.”
In addition to Sisetska, the Vasil Kisil & Partners project team included Partner Alexander Borodkin and Associate Roman Riabenko.
Image Source: awas.com