The facts of this case involved claims by an aircraft leasing company, Wallis Trading Inc. (‘Wallis’ or the ‘claimant’) against Air Tanzania Company Ltd (‘ATCL’) and the Government of the United Republic of Tanzania (the ‘Government’ and together with ATCL, the defendants). Wallis as lessor negotiated a lease with ATCL as lessee (the ‘Lease’). The Lease was governed by English law and contained standard representations. Amounts payable under the Lease were subsequently not paid when due. The defendants argued that due to lack of authority, breaches of fiduciary duties and failures to comply with certain Tanzanian procurement legislation, the Lease was invalid, unenforceable by reason of illegality and there were grounds for unconscionability and unjust enrichment.
Continue Reading Will standard representations amount to Contractual Estoppel?