Aircraft Finance under a New Paradigm: The Cape Town Convention and Aircraft Equipment Protocol

In this article (Paragraph No. 10,461) the author provides a detailed, article-by-article explanation of both the Convention and the Aircraft Protocol. The signing in late 2001 of the Cape Town Convention on International Interests in Mobile Equipment and its Protocol on Matters Specific to Aircraft was the culmination of a 13-year effort to adopt uniform international rules governing security interests in assets that were the subject of cross-border financing. A member of the U.S. delegation to the intergovernmental meetings and the Diplomatic Convention for the Convention and Aircraft Protocol, the author begins his article with a brief history of the efforts to draft the documents, highlighting the predominant them driving the delegates: the need to service commercial reality. Following the comprehensive review of the texts, the author concludes that the Cape Town experience resulted in final products that are “balanced between the right of debtors and creditors, and offers tremendous potential for making aircraft finance more generally available on cost effective terms to airlines around the world, providing all of the stakeholders in civil aviation with a win-win situation.”

• Corporate Authors:

  International Aviation Law Institute

  DePaul University College of Law, 25 E Jackson Boulevard
  Chicago, IL  United States  60604
• Authors:
  • Emery, Louis E
• Publication Date: 2008

Language

• English

Media Info

• Media Type: Print
• Edition: Transfer Binder 2: 2004-2008
• Features: References;
• Pagination: pp 4051-4078
• Monograph Title: Issues in Aviation Law and Policy

Subject/Index Terms

• TRT Terms: Aircraft operations; Airlines; Civil aviation; Debt; Financial analysis
• Identifier Terms: Cape Town Convention
• Uncontrolled Terms: Creditors
• Geographic Terms: Cape Town (South Africa)
• Subject Areas: Aviation; Finance; Law; I10: Economics and Administration;

Filing Info

• Accession Number: 01141809
• Record Type: Publication
• Files: TRIS
• Created Date: Oct 20 2009 7:40AM