Learjet Inc. Aircraft Receivables Securitization

Learjet Inc., as seller, Liberty Street Funding Corp., as purchaser, and The Bank of Nova Scotia, as agent, entered into an aircraft purchase agreement on July 26, 2001 in relation to certain aircraft manufactured by Learjet Inc. The goal of the financing transaction was to structure and arrange a $200 million aircraft receivables securitization, pursuant to which Liberty Street Funding Corp., a multi-seller commercial paper vehicle administered by Scotia Capital, and one or more third-party commercial paper conduits would offer and one or more financial institutions would commit to finance the purchase of a portfolio of aircraft receivables and related assets originated by Learjet Inc. and/or its affiliates.

Paul Raymond and Kathy Shakibnia of Ogilvy Renault in Montreal acted as counsel to Bombardier Inc., which guaranteed the obligations of Learjet Inc. Christopher Hilbert of Morgan, Lewis & Bockius LLP, New York, acted as counsel to Learjet Inc. and Julia R. Sarron of Mayer, Brown & Platt, New York, acted as counsel to The Bank of Nova Scotia.


Kathy Shakibnia Paul Raymond


Norton Rose Fulbright Canada LLP Morgan, Lewis & Bockius LLP Mayer Brown LLP