Wells Fargo Trust Company, National Association (trustee) v VB Leaseco Pty Ltd (administrators appointed)

The dispute in Wells Fargo Trust Company, National Association (trustee) v VB Leaseco Pty Ltd (administrators appointed) involved the interpretation and application of international and domestic aviation laws, specifically focusing on the obligations of administrators under the International Interests in Mobile Equipment (Cape Town Convention) Act 2013 (Cth) and the Corporations Act 2001 (Cth). The applicants, Wells Fargo and others, sought declarations and orders compelling the administrators to deliver certain aircraft engines and related equipment to the applicants in the United States. The administrators contended that they had fulfilled their obligations by providing notices under the Corporations Act. The Court was required to decide whether the administrators' actions complied with the international obligations under the Cape Town Convention and its Aircraft Protocol, and whether the administrators could be held personally liable under the Corporations Act for failing to disclaim the applicants' property. The Court concluded that the requirement to "give possession" of the aircraft objects to the applicants involved physical delivery to the United States, consistent with the terms of the lease agreements and the object and purpose of the Convention and Aircraft Protocol. The Court found that the administrators' notice under the Corporations Act did not discharge their obligations under the international regime, and they were required to deliver the aircraft objects to the applicants. The Court also found that the administrators were not personally liable for the applicants' property from a specific date, as they had acted reasonably in providing assistance to the applicants. The Court ordered the administrators to deliver the aircraft objects to the applicants by a specified date, and to maintain and insure the objects until delivery. The Court further granted relief to the administrators from personal liability for certain periods under the Corporations Act.