TANDRIN AVIATION HOLDINGS LTD v AERO TOY STORE LLC AND ANOTHER

[2010] Lloyd's Rep Plus 84

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Hamblen

Sale of aircraft - Deposit of US$3 million paid by buyer to escrow agent - Buyer failing to accept delivery of aircraft - Contract providing for deposit to be paid to seller as liquidated damages in event of buyer's failure to accept delivery of aircraft - Whether a penalty clause - Whether England appropriate jurisdiction - Whether buyer entitled to rely on force majeure - Whether appropriate for court to order escrow agent to pay deposit to seller.