Aircraft Financing Lawyer

CANADIAN AIRCRAFT FINANCING LAWYER

Experienced legal services related to financing the purchase of aircraft.

Financing of an aircraft purchase is an exceedingly common practice given their considerable purchase price, which would otherwise eliminate capital access that tends to be important to most individuals and businesses. And whether it’s the aircraft manufacturer or a bank that is providing the financing, you need to be cognizant of not only your financial payment obligations, but also the legal specifications attendant with the financing arrangement.

Financing arrangments have become exceedingly legalistic, especially in Canada, where every possible aspect associated with the financing arrangement and the legal exposure of the financier is sought to be dealt with. This can make the legal documents challenging to comprehend and unknowingly put yourself and your company in a difficult predicament, especially where you are dealing with a generic financing agreement that isn't specific to an aircraft acquisition, which one sees primarily with banks and other financial institutions. As such, given the specific intentions associated with the particular aircraft that you are acquiring and how you are seeking to optimize its ownership, could place yourself in a future problematic situation or necessitate yourself to re-negotiate the terms of your financial arrangement at a later date, all of which aren't necessarily advantageous, especially given that after the aircraft acquisition, most owners don't immediately pursue required modifications to their financing arrangements with the financier, such that they tend to find themselves seeking to re-negotiate with their financier after-the-fact and while they are effectively in breach of their financing contract, which is never a good negotiating position.

As such, it is preferable to be working with knowledgeable legal counsel from the outset and getting the financing documents to properly reflect your intentions with respect to your newly acquired aircraft and its ongoing use, including changes that will necessitate further discussions and arrangements with the financier.

To contact the law firm of Neufeld Legal P.C. with respect to legal and contractual matters pertaining to private jet and other aircraft purchases, sales, financing and leasing, our legal team can be reached via email at Chris@NeufeldLegal.com and by phone at (001) 416-887-9702.