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18 Apr 2019

MAC equipment: cross-border financing and leasing


Following a trip to Africa, Jacqueline Cook looks at the issues involved with moving assets used in the mining, agriculture and construction industries, between countries – and even continents. With expansion of the Cape Town Convention on International Interests in Mobile Equipment from aircraft, rail and space assets to equipment, this article, as first published in Leasing Life April 2019 edition examines the draft MAC Protocol and how it could protect security interests and leases in financing transactions across international borders while improving access to finance in mature and developing markets. It is due to be adopted by the UN diplomatic conference in November 2019. A special note of thanks is given to William Brydie-Watson of UNIDROIT, to Professor Louise Gullifer, Harris Manchester College, University of Oxford and the Cape Town Convention Academic Project, and to Lisa Marks of Stephenson Harwood LLP for their encouragement and support.

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