Once ratified in the UK, our International Interests in Mobile Equipment (Cape Town Convention) Law, 2015 (Law) will give effect to the Convention once it is extended to the Cayman Islands.

The extension of the Convention will entitle the Cayman Islands to recognition (i) as a territorial unit of a contracting state to the Convention and (ii) of the declarations deposited by the UK on behalf of the Cayman Islands with the International Institute for the Unification of Private Law – UNIDROIT.

This is an important step in aligning treatment of aircraft assets in the Cayman Islands with an increasingly recognised international standard. This article looks at the impact adoption of the Convention may have on the Cayman aviation industry and what steps may need to be taken as a consequence.

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