British Eagle Revisited – Airlines 'Jumping The Queue' in Insolvency
Journal of International Banking Law and Regulation, p. 354, 2008
Journal of Banking and Finance Law and Practice, Vol. 19, No. 35, 2008
20 Pages Posted: 9 Feb 2011
Date Written: February 6, 2008
The High Court has upheld the International Air Transport Association’s claims about the effect of its clearing house system in relation to the insolvency of Ansett Australia.This article examines this signiﬁcant decision in the ﬁeld of payment systems, multilateral netting and set-off. The case departs from the previous leading case in the area (British Eagle) and clariﬁes some of the legal uncertainty that prompted the passing of special netting legislation in a number of countries.
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