BNP Faces £2M Damages Claim Over Failed Aerospace Deal

Law360, London (July 21, 2021, 5:21 PM BST) -- A British aerospace company is suing an arm of BNP Paribas for more than £2 million ($2.7 million) in damages after a court gave it the green light to rescind a lease with the bank for a new rocket-testing facility.

Reaction Engines Ltd. has told the High Court that BNP Paribas Depositary Services Ltd. is liable to pay it damages over a deal to build an aerospace testing facility that went south after construction plans fell through.

The aerospace firm told the court in a claim filed on Friday that it entered into a lease agreement with the arm of BNP...

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