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Article: NEW RULING GIVES WESTPAC CONTROL OVER PLANE LEASES LESSORS' PROTECTION HAS EXPIRED, JUDGE SAYS.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- March 12, 1998
- Author:
CopyrightCOPYRIGHT 1998 Rocky Mountain News. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Richard Williamson Rocky Mountain News Staff Writer
Western Pacific Airlines is dead. But the fight for its planes lives on.
U.S. District Judge John Kane revived a legal battle over who controls the aircraft leases with a ruling Wednesday that surprised many attorneys in the case.
``The effect is essentially to give back to the airline primary control over a number of the planes,'' said Western Pacific attorney Christian Onsager. ``There's some question about what happens next.''
Smith Management Co. won the right to control Western Pacific's 18 aircraft leases when it agreed to lend up to $30 million in a bid to rescue the ...