Wells Fargo Trust Company, National Association (as owner trustee) v VB Leaseco Pty Ltd (administrators appointed)

HIGH COURT OF AUSTRALIAKIEFEL CJ,GAGELER, KEANE, EDELMAN AND STEWARD JJWELLS FARGO TRUST COMPANY, NATIONAL ASSOCIATION (AS OWNER TRUSTEE) & ANOR            APPELLANTSANDVB LEASECO PTY LTD (ADMINISTRATORS APPOINTED) & ORS  RESPONDENTSWells Fargo Trust Company, National Association (as owner trustee) v VB Leaseco Pty Ltd (administrators appointed)[2022] HCA 8Date of Hearing: 4 November 2021Date of Judgment: 16 March 2022S60/2021ORDER1. Order 3 of the orders of the Full Court of the Federal Court of Australia made on 7 October 2020 be set aside and, in its place, it be ordered that: "the respondents pay the appellants' costs of the proceedings before the primary judge as agreed or assessed".2.Appeal otherwise dismissed. 3.The appellants pay the respondents' costs of the appeal.4.The amount of $500,352.99, paid into the Federal Court of Australia by the appellants pursuant to the orders of the Federal Court of Australia made on 10 November 2020, be released to the respondents.On appeal from the Federal Court of AustraliaRepresentationB W Walker SC with P F Santucci for the appellants (instructed by Norton Rose Fulbright Australia)J T Gleeson SC with K I H Lindeman for the respondents (instructed by Clayton Utz)Notice:  This copy of the Court's Reasons for Judgment is subject to formal revision prior to publication in the Commonwealth Law Reports.CATCHWORDSWells Fargo Trust Company, National Association (as owner trustee) v VB Leaseco Pty Ltd (administrators appointed) Aviation – Aircraft leasing – Where first appellant leased aircraft engines to lessee company – Where administrators appointed to lessee company – Where lease agreements specified obligations for...