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Lewis C. Ledyard, III



Lewis C. Ledyard, III is a member of Morris James’ Business Transactions, Strategic Planning and Counseling Practice, a group that has been involved in over $100 Billion in financings for a wide range of clients.

Lew focuses primarily on the organization and operation of statutory and common law trusts, limited liability companies, and other Delaware business entities in commercial and business transactions, used predominantly in commercial aviation and infrastructure finance. His practice also includes acting as Delaware counsel to banks, trustees, financial institutions, and other parties in domestic and cross-border transactions such as leveraged leases and asset-backed securitizations


  • Representing financial institutions acting as trustees and fiduciaries in structured finance transactions involving aircraft, rolling stock, energy and infrastructure facilities, as well as other asset-backed finance transactions
  • Providing Delaware law legal opinions on matters concerning Delaware common law and statutory trusts, limited liability companies, partnerships and corporations  

Professional Affiliations

Delaware State Bar Association, Commercial Law Section
American Bar Association, Section of Business Law
Trustee Subcommittee of the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment (the "Cape Town Convention")
Drafting Committee of the Aviation Working Group

Recent Matters

  • Numerous aircraft finance transactions involving loan guarantees by several export credit agencies including the Export-Import Bank of the United States, Export Development Canada and the Export Credits Guarantee Department of the United Kingdom
  • Enhanced Equipment Trust Certificate (“EETC”) transactions involving Continental Airlines, United Airlines, US Airways
  • The first EETC transaction involving European air carriers
  • JOLCO aircraft finance
  • AFIC guaranteed structured finance
  • International finance transactions involving guarantees by Delaware companies
  • Participating in the development of GATS on behalf of aircraft trustees
  • Project finance transactions involving funding and/or guarantees provided by the United States Department of Defense and the United States Department of Energy


Articles & Publications

News & Events



Former Member of the Board of the Brandywine River Museum and Conservancy
Former Trustee of the Grand Opera House in Wilmington, Delaware
Former Trustee of the Upland Country Day School



Best Lawyers, 2020 - Present

Chambers USA, 2018 - 2019 Recognized for Corporate/M&A: Alternative Entities

Delaware Today Top Lawyers

  • 2021 Delaware Business Commercial Law
  • 2017 Top Vote-Getter, Corporate Law
  • 2014 Top Vote-Getter, Aviation Law

Delaware Volunteer Legal Services Pro Bono Honor Roll, 2009

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