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4. The Claimant recognized and retained the topic aircraft in whole satisfaction of your Leases and the monetary obligations claimed to become because of and owing;
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In accordance with the evidence, Cessna adopted these outlined conditions if you want to find out the amount due and owing from Gulf Jet versus which the net proceeds of sale were being then utilized. The Stipulated Decline Worth is the largest element and It's a predetermined amount of money set out in Annex C to each Lease for each month from the Lease expression as It is just a decreasing total following Every single Regular monthly Rental Payment.
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Leave was also granted Along with the consent of Respondent 2 for particular in the Claimant's witnesses, which includes professional Kenneth Dufour, to look on the deserves Listening to By the use of video clip meeting with the needs of cross-examination
245. With regard to the costs of this arbitration within Article 37 (one) of your ICC Procedures in regard from the charges and expenditures of the Sole Arbitrator and the Administrative bills as at present set via the ICC Courtroom in the quantity of US $ a hundred ninety,000, all of that has been compensated by Cessna, it is actually requested the which the Respondents Gulf Jet, Al Meeza and Al Mulla are jointly and severally liable to pay for to Cessna the sum of US $ one hundred ninety,000 for these charges of this arbitration. 246. The Tribunal determines that any and all other claims and defenses not if not decided in this Remaining Award be and exactly the same are hereby turned down. Jus AI Here are some recommendations to get you started off
121. With the foregoing factors, this Tribunal rejects the varied jurisdictional get more info objections raised with the Respondents 1 and three and finds this Tribunal has jurisdiction to find out the disputes asserted from the Claimant in accordance Using the arbitration agreements contained inside the Leases and Ensures and in accordance Together with the ICC Guidelines. Legal responsibility Difficulties in Regard of the Alleged Breaches of your Leases 122. It will likely be hassle-free for the uses in the dialogue and Investigation of your liability issues to combine in this section Problems two, three five and six as outlined earlier mentioned which in uncomplicated phrases address the liability, if any, of Gulf Jet to the alleged breaches of the two Leases, which includes a thought on the liability defences lifted by Gulf Jet. Additionally, The main element specifics and instances concerning the managing of The 2 Leases are almost identical, with only small distinctions when it comes to the timing of some events and payments in relation to every on the Leases, which regarding the legal responsibility difficulties are certainly not content. As a result the liability challenges for both equally Leases are going to be addressed at the same time. 123. Disputed Validity from the Leases. The plane Leases are the inspiration with the claims along with the Claimant has adduced sizeable evidence regarding the arms - duration negotiation and execution from the Leases to ascertain their validity and enforceability Respondent two essentially admits the validity of the Leases as remaining entered into by Gulf Jet "through the Respondent... Al Mulla", who signed All those Leases for Gulf Jet but who in any other case denies personal liability (Response of Al Mulla, paragraphs 22 to 31). Nonetheless, the Respondents Gulf Jet and Al Meeza have place in issue the validity and enforceability of these two Leases (see Respond to of Gulf Jet and Al Meeza at paragraphs one.2, 1.4, 1.5, 2.four and four.four), whilst simultaneously also admitting that Gulf Jet acquired the proper to possess and run the jet plane "as prescribed during the Plane Leases" and it has discharged all of its obligations under the Leases (see Solution of Gulf Jet and Al Meeza, paragraphs 3.2 and three.3). 124. As famous previously, the Claimant relied to the proof of Cessna s Assistant Typical Counsel, Gil Guthrie, to explain intimately the arms-duration negotiation of The 2 Leases as well as Assures around a 4 thirty day period time period with Gulf Jet and the individual guarantors being represented by seasoned outdoors counsel from Ince Al Jallaf & Co in Dubai.