Textainer Equipment Management v. Pacific Interlink
Textainer Equipment Management Limited (Textainer) sued Pacific Interlink SDN BDH (Pacific) for unpaid rent on shipping containers Pacific lost while it had them on lease from Textainer. Pacific asserts it does not owe rent because Textainer did not fulfill its contractual obligation to invoice Pacific for the lost containers’ replacement value—payment of which would have stopped rent from accruing. Textainer asserts it had no obligation to invoice Pacific, which could have paid the pre-set replacement value at any time to stop accrual of rent. After inspecting the parties’ lease agreement, the trial court ruled in favor of Textainer and awarded it rent and other damages. We affirm.
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