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Abstract
In aircraft financing, pre-delivery payment financing—or PDP financing—refers to the financing of progress payments that a purchaser makes to a manufacturer while new aircraft are being built. This article discusses key contractual and bankruptcy aspects of PDP financing transactions. It steps through the basics of PDP financing and then discusses the bankruptcy “claw-back” issue that is currently affecting the PDP financing market place. The article also considers current and possible future structures that may help lenders and manufacturers better address bankruptcy problems affecting many existing PDP financing structures.
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US and Overseas: +1 646-931-9045
UK: 0207 139 1600