Ch. 11 Auction Suit Against Chopper Co. Dismissed

Law360 (September 11, 2019, 8:53 PM EDT) -- A New York bankruptcy judge has dismissed asset manager Macquarie Group's claim that a helicopter leasing company violated a nondisclosure agreement when it bought choppers that Macquarie had unsuccessfully bid on at auction from bankrupt Waypoint Leasing's fleet.

In a decision issued Tuesday, U.S. Bankruptcy Judge Stuart Bernstein said he had previously dismissed claims that LCI Helicopters Ltd. had engaged in collusion to affect the results of the auction and that those results had actually brought more money to Waypoint than accepting Macquarie’s bid would have.

“Assuming that LCI breached the NDA, the suggestion that the debtors were damaged defies common...

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