• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
Bell Nunnally & Martin LLP

News/Events

News | August 4, 2022

Bell Nunnally Partners Perrin Fourmy and Jeff Lowenstein Secure $1.5M+ Breach of Contract Judgment for Bank of Utah in Aircraft Lease Dispute

Bell Nunnally partners Perrin B. Fourmy and Jeffrey S. Lowenstein represented Bank of Utah in an aircraft leasing matter involving a foreign-based lessor against the Dallas based lessee who abandoned an aircraft, attempting to walk away from liability for required maintenance and payments.

The lessee was a subsidiary of Megatel Homes, a large Dallas based home building entity. Despite running a highly profitable business, Megatel Homes’ owner had attempted to set up a judgment-proof subsidiary, as the lease was through a shell company with no assets and no underlying business. The court rejected this assertion and found the lessee liable for breach of contract and declaratory judgment, and found its parent company and the owner of both entities liable under veil-piercing and alter ego theories of liability.

The entity that leased the aircraft initially sued Bank of Utah asserting breach of contract and seeking declaratory judgment. Bank of Utah then asserted its own counter-claims for breach of contract and declaratory judgment. The 14th Judicial District Court, Dallas County, Tex. – after a one-day trial – on July 12 denied all the lessee’s claims, issuing a ruling in favor of Bank of Utah and awarding damages, interest and attorney’s fees totaling over $1.5M. Lessee’s counsel has indicated plans to appeal, but has yet to do so.

Related Media Coverage:

  • “Litigation Roundup: Private Planes, Insurance Claims, Patent Suits Against Big Names,” Texas Lawbook, August 2, 2022

Primary Sidebar

Related Attorneys

  • Perrin B. Fourmy

    Perrin B. Fourmy

    Partner

    pfourmy@bellnunnally.com
    214-740-1436
  • Jeffrey S. Lowenstein

    Jeffrey S. Lowenstein

    Partner

    jlowenstein@bellnunnally.com
    214-740-1410

Related Practices

  • Litigation
Stay in the know...
Don’t miss anything — Subscribe to our email list!
2323 Ross Avenue, Suite 1900, Dallas, Texas 75201 | 214.740.1400
© 2023 Bell Nunnally & Martin LLP All Rights Reserved
  • Sitemap
  • Disclaimer
  • Privacy Policy
  • Client Pay
legalink logo Site by
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
  • People
  • Practices
  • Industries
  • News/Events
  • Contact Us
  • About Us
  • Clients
  • Careers