United States Eighth Circuit

In an action alleging that, in the aftermath of an airline's bankruptcy filing, plaintiff's equity in an aircraft and lease were improperly extinguished by a bank, acting on defendant's instructions, summary judgment for defendant is affirmed where: 1) the bank properly informed plaintiff that the lease of the aircraft was in default, as required by the lease agreement; 2) given the lease's expansive language, it was reasonable to consider as a remedy the 11 U.S.C. section 1110(b) stipulations requiring the airline to maintain the aircraft and to make monthly payments despite the bankruptcy stay.

Appellate Information

• Decided 04/13/2010
• Published 04/13/2010

Judges

Court

• United States Eighth Circuit

Counsel