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Security Interests Under the Cape Town Convention on International Interests in Mobile Equipment

ISBN13: 9781782258216
Published: June 2018
Publisher: Hart Publishing
Country of Publication: UK
Format: Hardback
Price: £75.00
Paperback edition , ISBN13 9781509943647

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The book will provide an extensive analytical examination of the Cape Town Convention and its Protocols. The Convention aims to facilitate asset based financing and leasing of aircraft, railway and space objects by establishing a uniform legal regime for the creation and protection of security and related interests in these types of equipment.

It will provide a detailed treatment of issues arising from the creation of security and international interests under the Convention, from the need to ensure their priority among competing interests and the enforcement of remedies in the case of the debtor's default or insolvency.

Security interests in aircraft, railway and space objects are one of the most frequently invoked mechanisms used to ensure repayment of the debt. It is their significance, effectiveness and frequency of use that explains this work's focus and scope.

Commercial Law, Air and Space Law
1. The Cape Town Convention and the Concept of the International Interest
I. Introduction
II. The Concept of a Security Interest
III. The Concept of the International Interest
IV. The Legal Nature of International Interests: Proprietary or Contractual?
2. The Constitution of Security and other International Interests under the Convention and the Protocols
I. Introduction
II. The Effect of the Constitution of the International Interest
III. The Autonomous Nature of the International Interest
IV. The Formal Requirements
3. Registering an Interest in the International Registry
I. Introduction
II. Defining Features of the International Registry
III. The Supervisory Authority and the Registrar
IV. Objectives of the Registration and Registrable Interests
4. The Process of Registration
I. Introduction
II. Who Can Effect Registrations in the International Registry?
III. Establishing an Account with the International Registry
IV. Formal Requirements for Registration
V. Validity and Time of Registration
VI. Searches and Search Certificates
VII. Discharge of Registration
5. Priority of Competing Security and other International Interests
I. Introduction
II. The General Rule: First-in-time, First-in-right
III. The Possibility of a Purchase Money Security Interest
IV. Exceptions to the General Rule of Priority
V. Effects of Insolvency
6. Enforcement of Security Interests under the Convention and the Protocols
I. Introduction
II. Defining ‘Default’
III. The Requirement of Commercial Reasonableness: General Considerations
IV. Default Remedies of the Secured Creditor
V. Vesting of Object in Satisfaction; Redemption
VI. Speedy Relief Pending Final Determination
VII. Remedies Available under the Protocols