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To embed, copy and paste the code into your website or blog: The Second Circuit Court of Appeals recently affirmed a decision confirming a decision by the International Chamber of Commerce (ICC) that applied the law of the United Arab Emirates (UAE). Cessna Finance Corp. leased several private jets to startup Prestige Jet Rental. Ghaith Al Ghaith, Prestige’s chairman, who was also the deputy chairman of Al Ghaith Holding Co. PJSC (AGHC), guaranteed the lease agreements in his capacity as deputy chairman of AGHC. When Prestige defaulted, Cessna initiated arbitration in the ICC pursuant to the lease agreements against AGHC. AGHC argued that Al Ghaith’s guarantee was invalid because its articles of association required the signatures of “two out of three” of its chairman, deputy chairman, and managing director to bind the company, and only Al Ghaith had signed the guarantee. The ICC rejected that claim, finding that “AGHC was bound by ‘good faith’ under … the UAE Civil

United arab emiratesGhaith alAl ghaithCessna finance corpSecond circuit courtAl ghaith holding coInternational chamberPrestige jetSecond circuitஒன்றுபட்டது அரபு அமீரகங்கள்கெய்த் அல்அல் கெய்த்இரண்டாவது சுற்று நீதிமன்றம்அல் கெய்த் வைத்திருத்தல் இணைசர்வதேச அறைஇரண்டாவது சுற்று