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Archive for July 30, 2020

Contractual Estoppel May Apply in Business Leasing

The High Court has recently held that a party who made contractual representations as to the validity of an aircraft lease was contractually estopped from subsequently alleging that the agreement was invalid.

In Wallis Trading Inc v Air Tanzania Company Limited  [2020] EWHC 339 (Comm) the lessee (Air Tanzania) made certain representations including that the lease was legal and valid, and that it had obtained all required authorisations and consents to enable it to enter into and perform the lease. Air Tanzania later argued that the lease was invalid because (among other things) it had failed to comply with Tanzanian public procurement laws.

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The Consumer Credit (Disclosure of Information) Regulations 2010 have been amended so that references to “SECCI” (the Standard European Consumer Credit Information) are deleted – the documents shall now simply be known as the Pre-Contract Credit Information.

However, there is no substantive change to the contents of the document.

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