The perfection and priority rules of the Cape Town Convention and the Aircraft Protocol A comparative law analysis

Abstract

This article presents an overview, from a comparative law perspective, of the rules of the Cape Town Convention and the Aircraft Protocol on the creation, perfection and priority of an international interest. Section 1 delineates the scope of the article and points out that the Cape Town Convention and the Aircraft Protocol must be read together; therefore, the analyses in the article refer only to the consolidated version of the two instruments. Section 2 summarises the rules for the constitution of each of the three categories of international interests contemplated by the Convention (a security interest granted under a security agreement, the ownership interest of a seller under a conditional sale and the interest of a lessor under a leasing agreement). Comparisons are made with national law, including on whether or in what circumstances a conditional sale or a lease will be characterised as a security interest. Section 3 deals with the effectiveness against third parties of an international interest: ...