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06 Jul 2015

1 November 2015 – Effective date for Cape Town Convention in the Cayman Islands, Gibraltar, Guernsey and the UK

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On 27 July 2015 the UK Government formally ratified the Cape Town Convention and Aircraft Protocol (together, the "Convention") by submitting instruments of ratification to Unidroit. This ratification will come into effect on 1 November 2015 and also extends to the Cayman Islands, Gibraltar and Guernsey. As the Cayman Islands in particular is a popular jurisdiction for aircraft-owning special purpose vehicles, a wide range of new transactions will become subject to the Convention.

This briefing note outlines some of the significant points that will affect the application of English law to aircraft finance transactions.

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