Russia is expected to accede to the Cape Town Convention later this year, following its recent enactment of an Accession Law. Russia’s accession to the Cape Town Convention will be good news for international creditors and financiers. The Accession Law can, however, be seen as a missed opportunity to improve access to......
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Showing posts with label Cape Town Treaty. Show all posts
Showing posts with label Cape Town Treaty. Show all posts
Sunday, March 20, 2011
Thursday, January 20, 2011
Cape Town Convention makes skies safer for bankers
Article written by D.ROSS, C. BARBER and E. SUTCLIFFE
Lenders on certain aircraft and aircraft equipment now have the protection of a specialist international registry after legislation was passed last year to bring the Cape Town Convention and Protocol into effect in New Zealand.
The convention, which also provides for remedies if a debtor defaults, is intended to reduce the risk to financiers and therefore to reduce the cost of aircraft funding.
The Cape Town Convention
The Convention on International Interests in Mobile Equipment and the associated Protocol on International Interests in Mobile Equipment Specific to Aircraft Equipment was adopted at a conference in Cape Town and is restricted to:
•airframes which can carry at least 8 people or goods in excess of 2750kg
•helicopters which can carry at least 5 people or goods in excess of 450kg, and
•engines of over a certain size.
It was brought into force in New Zealand on......
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Visit myairlease.com for Articles about asset transactions and financing!
-----------------------------------------------------------------------------------------------------------------
Lenders on certain aircraft and aircraft equipment now have the protection of a specialist international registry after legislation was passed last year to bring the Cape Town Convention and Protocol into effect in New Zealand.
The convention, which also provides for remedies if a debtor defaults, is intended to reduce the risk to financiers and therefore to reduce the cost of aircraft funding.
The Cape Town Convention
The Convention on International Interests in Mobile Equipment and the associated Protocol on International Interests in Mobile Equipment Specific to Aircraft Equipment was adopted at a conference in Cape Town and is restricted to:
•airframes which can carry at least 8 people or goods in excess of 2750kg
•helicopters which can carry at least 5 people or goods in excess of 450kg, and
•engines of over a certain size.
It was brought into force in New Zealand on......
-----------------------------------------------------------------------------------------------------------------
Visit myairlease.com for Articles about asset transactions and financing!
-----------------------------------------------------------------------------------------------------------------
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