In the December 2005 issue of this publication, this author reviewed the Seventh Circuit's decision in United Air Lines, Inc. v. HSBC Bank USA, N.A., 416 F.3d 609 (7th Cir. 2005) ('United I').
Keep Your Lease A Lease: Seventh Circuit Finds the Severability of a Contract Defeats Re-characterization
In the December 2005 issue of this publication, this author reviewed the Seventh Circuit's decision in <i>United Air Lines, Inc. v. HSBC Bank USA, N.A.</i>, 416 F.3d 609 (7th Cir. 2005) (<i>'United I'</i>). In that decision, the Seventh Circuit was asked to determine whether a transaction involving land at the San Francisco airport that was denominated as a lease in the agreement would be treated as a lease for bankruptcy purposes. The Seventh Circuit held that it would look at the substance of the transaction and beyond the form and labels imposed by the parties' documentation.
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James A. TimkoThis premium content is locked for LawJournalNewsletters subscribers only
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