GECAS wins appeal hearing in Alpstream litigation

GECAS has reported that the English High Court on November 1 has granted GECAS and PK AirFinance permission to appeal its earlier decision awarding damages to a lender in the NRC group. The court required the claimants and their Russian parent group, NRC, to give a joint undertaking to the court, PK and GECAS committing to refund money paid to the extent the appeal succeeds. “We hope that the appeal will be heard before the middle of next year,” said GECAS in a statement.