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When letting an aircraft to a Lessee from a certain jurisdiction, it is important to understand what will happen if a lessee is in a default under such lease agreement, and how, if required, it is possible to repossess an aircraft in that jurisdiction.
This briefing gives an overview of the main steps to be taken to repossess an aircraft (the "Aircraft") leased to a Russian lessee and operated on the territory of the Russian Federation (the "Lessee") with a focus on major issues that are likely to arise in this respect.
Where a repossession claim concerns legal entities or individual entrepreneurs, it will be heard by the Russian arbitrazh courts (the "Arbitrazh Courts" or "Arbitrazh Court"), which are state commercial arbitrazh courts with jurisdiction in economic disputes between parties that are Russian or foreign legal entities or individual entrepreneurs. Sometimes the Arbitrazh Courts have jurisdiction in a dispute even if it involves a private individual.
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