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The successful purchase of an aircraft requires the engagement of different professionals. 

Transaction Highlights

Represented the purchaser of a Gulfstream GV in connection with its purchase and import from the United Arab Emirates, and related financing.

Represented an aircraft owner in connection with arrangements for having its aircraft appear in the MGM major motion picture James Bond 007 Casino Royale starring Daniel Craig.

Represented aircraft owner in connection with the acquisition of Dassault Falcon 900 as part of synthetic lease financing and reverse 1031 exchange involving synthetic lease.

The Right Team

The successful purchase of an aircraft requires the engagement of different professionals.

Aircraft Brokers and Technical Consultants – an experienced aircraft broker or consultant can greatly reduce the burdens of the purchase on the client. They will have extensive knowledge of the types of aircraft available in the marketplace and will be able to educate the client on which types are best suited for the client’s mission. When the aircraft undergoes a pre-purchase inspection, the broker or technical advisor will monitor the inspection to ensure that the client’s interests are being represented. Our experience is that aircraft represented by qualified and experienced technical advisors have more thorough inspection results if being purchased, and more limited repair costs if being sold.

Escrow Agent – the escrow agent will do more than simply hold funds in an aircraft transaction. The escrow agent will issue a lien and registration search, make the necessary filings of legal documents with the FAA Civil Aircraft Registry and on the International Registry, and coordinate with aviation counsel. Escrow agents may be third party service providers or local FAA counsel in Oklahoma City.

Insurance broker – an experienced insurance broker will be able to recognize the needs of the client given the use and type of aircraft purchase. The cost of insurance may vary drastically among various providers. While we always recommend clients purchase the maximum amount of insurance that they can afford, an insurance broker will know what the current industry standards are for the particular aircraft.

Tax and Accounting Professionals – it is important that the client and aviation counsel coordinate structuring the ownership and operation of the aircraft as soon as possible after a determination has been made to acquire a business aircraft. The sooner these professionals can be brought onto the team (whether they be the client’s in-house professionals or outside accountants) the more efficient the transaction will be implemented. Time and money is often wasted when these issues are left to the end to address.

THE RIGHT TEAM. THE RIGHT DEAL.

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There is one thing that a safe pilot has in common with a good aviation transaction lawyer: experience — experience with navigating the routine and complex transactional issues, none of which are the same in every deal, but all of which demand in-depth knowledge.

- Stewart Lapayowker