TANDRIN AVIATION HOLDINGS LTD v AERO TOY STORE LLC AND ANOTHER

[2010] 2 Lloyd's Rep. 668

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.