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Public Companies

Public Companies have unique concerns when purchasing corporate aircraft and structuring their operations, including from the perspective of security and confidentiality. In light of the  negative media coverage of public companies that operate corporate aircraft, scrutiny of such business tools have increased. We regularly assist public companies with respect to issues relating to personal use of corporate aircraft (including the methods that can be implemented to allow reimbursement for personal use), the disclosure required by the regulations of the Securities and Exchange Commission and implementation of the Block Aircraft Registration Request program administered by FAA that blocks publication of real-time aircraft movements on publicly available online tracking services.

The Firm is experienced with working with legal departments and tax departments of large public companies to implement appropriate operating structures and planning objectives.

Representative transactions with publicly traded companies include:

*Represented Fortune 100 company in connection with transitioning its fleet of pre-owned Gulfstream aircraft to new Gulfstream aircraft, and transitioning its fleet of pre-owned Sikorsky helicopters to new helicopters, including the sale of the pre-owned aircraft, acquisition of the new aircraft, related FAA regulatory structuring, State tax planning, Federal tax planning (including coordination with the company’s tax department), implementation of 1031 exchanges, and addressing personal use issues and related SEC disclosure matters. This representation continues.

*Represented Fortune 100 company in connection with the negotiation and execution of sales agreements for new Gulfstream G450 and G550 aircraft, including related FAA compliance structuring, and State and Federal tax planning in coordination with the company’s tax department, and continuing representation in connection with the disposition of its pre-owned Dassault. This representation continues.

* Represented Fortune 100 company in connection with the disposition of its fleet of Gulfstream aircraft and Sikorsky helicopters.

*Represented public company in connection with the acquisition and import of pre-owned foreign-registered Dassault aircraft, including related FAA regulatory structuring, State tax planning, Federal tax planning (including coordination with the company’s tax department).

*Represented public company in connection with the negotiation of a purchase agreement with Bombardier for a Challenger 605 aircraft and negotiation and implementation of progress payment financing and lease financing with financial institution, including related FAA regulatory structuring, State tax planning, Federal tax planning (including coordination with the company’s tax department).

About Stewart H. Lapayowker, P.A.:

Based in Fort Lauderdale, Fla., the law firm of Stewart H. Lapayowker, P.A. focuses its practice on private and corporate aviation transactions worldwide, including throughout the United States, South America, the European Union, Asia and the Middle East. The firm regularly assists clients with a variety of issues related to aviation, including the sale, purchase, regulatory analyses, financing and management of corporate aircraft.

 
 
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