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Financing Rolling Stock: Luxembourg Rail Protocol Steams Ahead

By Barbara M. Goodstein and Howard Rosen

Cross-border trade and international law regimes are all affected by the Luxembourg Rail Protocol to the Cape Town Convention (the Cape Town Convention on International Interests in Mobile Equipment (the Convention)), which is well known to those experienced in aircraft financing. Like the Hague Securities Convention, the Cape Town Convention was sponsored by UNIDROIT (the International Institute for the Unification of Private Law), an intergovernmental organization whose mission is to harmonize international laws.

Background

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