What is the purpose of the Cape Town Convention?
What is the purpose of the Cape Town Convention?
The primary purpose of the Cape Town Convention is to protect the interest of the sellers, purchasers and creditors through the creation of an International Registry.
What is the Cape Town Convention and aircraft Protocol?
The primary aim of the Convention and the Protocol is to resolve the problem of obtaining certain and opposable rights to high-value aviation assets, namely airframes, aircraft engines and helicopters which, by their nature, have no fixed location.
What is an Idera?
What is an Irrevocable Deregistration and Export Request Authorisation (IDERA)? A. An IDERA is a voluntary measure that provides greater security to creditors by preventing a debtor from flying an aircraft to a jurisdiction where the Cape Town Convention does not apply.
How many countries have ratified the Cape Town Convention?
The convention has been signed by 4 countries (Burkina Faso, Germany, Saudi Arabia, Zimbabwe), but no country has ratified it.
Has Germany ratified the Cape Town Convention?
Germany signed the Cape Town Convention on 17 September 2002, but has not ratified it. Germany has no current plans to ratify the Cape Town Convention.
What is international registry for aircraft?
The International Registry permits individuals and organisations to register and search financial interests in aircraft assets. Our customers use the Registry to electronically record international interests for the purpose of establishing the priority of those interests.
Is Thailand party to the Cape Town Convention?
As Thailand is not a party to the Cape Town Convention, lessors must take into account the difficulties relating to repossession and removal of aircraft when leasing to Thai operators. Thai law does not permit a foreign party, such as a lessor, to register an aircraft on the Thai Registry.
Has France ratified the Cape Town Convention?
To which major air law treaties is your state a party? It should be noted, however, that although France has signed the Cape Town Convention on International Interests in Mobile Equipment (2001), it has not yet ratified it, and therefore it is not in effect in France.
When did Iceland ratify the Cape Town Convention?
25 June 2019
On 25 June 2019, the Icelandic Parliament enacted a law enabling the government to ratify the Convention on International Interests in Mobile Equipment (“Convention”) and the Protocol on Matters Specific to Aircraft Equipment (“Aircraft Protocol”).
Do I need to register my aircraft on the IR?
The international interest validates an entity’s financial interest in a qualified asset. Registering an international interest is mandatory when the aircraft, its engines, or fractional interests in an aircraft or engines are financed with an institutional lender.
What is the international registry for aircraft?
Why are qualifying declarations under the Cape Town Convention important?
A review of the ratification status of the Cape Town Convention reveals that, on the whole, States with a basis or roots in civil law have fully declared against the availability of self-help remedies, especially because non-judicial remedies are generally viewed with scepticism in these jurisdictions.
When was the Cape Town Convention and protocol concluded?
The Convention on International Interests in Mobile Equipment (pdf) was concluded in Cape Town on 16 November 2001, as was the Protocol on Matters Specific to Aircraft Equipment (pdf).
What is Cape Town Convention on international interests in mobile equipment?
Email: [email protected] . This article outlines and critically examines the relationship between the qualifying declarations and the economic advantages of the Cape Town Convention on International Interests in Mobile Equipment.
Is the Cape Town Convention a member state?
On 11 May 2021, the Cape Town Convention Academic Project published an exchange of letters with Sir Roy Goode on the cross border application of Article XI of the Aircraft Protocol where the airline’s centre of main interest is in a Member State of the European Union. Compliance with CTC means that a contacting state:
What is the purpose of the Cape Town Convention? The primary purpose of the Cape Town Convention is to protect the interest of the sellers, purchasers and creditors through the creation of an International Registry. What is the Cape Town Convention and aircraft Protocol? The primary aim of the Convention and the Protocol is to…