Legal Opinion
Atel Financial Corp., a California Corporation v. Quaker Coal Company, a Kentucky Corporation
Court of Appeals for the Ninth Circuit
Decided March 5, 2003No. 01-15687PublishedCited by 100 opinions
1Opinion of the Court
OPINION
2Per curiam
Atel Financial Corp. (“Atel”) appeals from the district court’s judgment that the liquidated damages provision in its $12 million equipment lease contract (the “Lease”) with Quaker Coal Company (“Quaker”) is unenforceable as a penalty under California law.
The facts of this case are set forth in detail in the district court’s opinion, reported at 132 F.Supp.2d 1233 (N.D.Cal. 2001). In essence, the parties entered into a lease for heavy mining equipment and Quaker, the lessee, became delinquent on its lease payments for a period of several months. Atel declared default and demanded…
3Cases cited3 opinions
- Cigna Property and Casualty Insurance Company Cigna Group of Companies David F. Allen Alliance Marine Risk Managers, Inc., Plaintiffs-Counter v. Polaris Pictures Corporation U.S. Inbanco, Ltd., Defendants-Counter- Claimants-Appellants. Cigna Property and Casualty Insurance Company Cigna Group of Companies David F. Allen Alliance Marine Risk Managers, Inc. v. Polaris Pictures Corporation U.S. Inbanco, Ltd. Rex K. De GeorgeCourt of Appeals for the Ninth Circuit · 1998
- Oceanside 84, Ltd. v. Fidelity Federal BankCalifornia Court of Appeal · 1997
- Atel Financial Corp. v. Quaker Coal Co.District Court, N.D. California · 2001
4Cited by100 opinions
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- Proctor v. Vishay Intertechnology, Inc.Court of Appeals for the Ninth Circuit · 2009
- Jeremy Pinson v. Michael CarvajalCourt of Appeals for the Ninth Circuit · 2023
- Preminger v. PrincipiCourt of Appeals for the Ninth Circuit · 2005
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