Aerospace Co. Wins Fight With BNP Over Rocket Test Site
Law360, London (March 31, 2021, 2:51 PM BST) -- A British aerospace company has the right to walk away from a lease with BNP Paribas for a new rocket engine testing facility because it did not promise to overlook construction delays, a London judge ruled Wednesday.
Reaction Engines Ltd. was contractually entitled to issue a notice terminating its lease agreement with BNP Paribas Depository Services Ltd. after a deadline to build a rocket testing facility in Buckinghamshire was not met, said Judge Jonathan Richards, sitting as a deputy judge of the High Court.
Representatives for Reaction Engines did not explicitly commit to leasing the site when they entered talks about...
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