3. The Claimant did not execute a commercially realistic sale of the subject plane: under Kansas regulation situated in whole or partially upon eight (8) different determined aspects, once again underneath Kansas law;
The uncertainty around the location of enforcement underscores the inapplicability with the laws of any probable location of enforcement to the threshold jurisdictional and procedural concerns to be based on this tribunal in initial occasion in an arbitration seated in Ny city.
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It absolutely was also asserted the discrepancy amongst the sale costs and the Stipulated Decline Values indicated that he sale charges were not fair or did not stand for honest sector benefit. Second, Al Mulla asserted that if Cessna experienced started off The entire system sooner, say in Fall of 2009, the reduction and deficiency would have been fewer.
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It is just this Tribunal which at this time has jurisdiction to determine the statements asserted by the Claimant against Respondents 2 and three. The reality that this arbitration is much more in depth with regard to the functions plus the statements was and is a further explanation not to stay this arbitration or to search out an absence of jurisdiction by rationale with the commencement from the Dubai Court docket Proceeding.
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Thus, subject matter to your affirmative defences lifted through the Respondents and talked about down below, it truly is further than dispute that Gulf Jet was prima facie in breach of its payment obligations and dedicated an Event of Default as outlined less than Just about every Lease as with the dates observed in subparagraphs 129 a. and b.
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