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Cape Town Convention: Complex Questions and Significant Opportunities
The Cape Town Convention on International Interests in Mobile Equipment (“Cape Town” or “CT”) and the related Aircraft Protocol (“Protocol”) (www.unidroit.org/english/conventions/mobile-equipment/main.htm) continue to advance slowly toward an expected effective date in 2006. When the Protocol enters into force it will affect virtually every commercial and business aviation transaction in the United States and many other nations around the world. Although Cape Town and the Protocol (collectively, the “Treaty”) promise to facilitate aircraft financing and provide new financing opportunities, the Treaty also poses numerous questions and requires new approaches to documenting and closing aviation transactions.
The complexity of the Treaty should not be understated, but neither should its potential value to aviation finance. It creates a new and simple registration system; yet its deceptive simplicity may set a trap for the unwary. To fully understand and evaluate issues presented by the Treaty, it is important to read the Convention on International Interests in Mobile Equipment and Protocol Thereto on Matters Specific to Aircraft Equipment, Official Commentary, Professor Sir Roy Goode CBE, QC, University of Oxford, Sept. 2002.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.