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Default and distress scenarios have assumed major proportions in both the
experiences and the anxieties of aircraft owners, financiers and operators.
The current state of the aviation market is leading to an increase in
defaults, workouts and repossessions. In addition, a default event may occur
for many other reasons than the obvious non-payment of lease rentals or lapses
in insurance, licences, authorizations or registrations. A third party may
claim an unexpected lien; unanticipated navigation charges may suddenly
appear; a plane may become inadvertently involved in a fleet detention;
interpretations of documentation may differ among jurisdictions—the
possibilities are literally endless. No contract or repossession insurance
policy can list all the contingencies.
Designed as a detailed practical guide to the management of aircraft during
default periods and their repossession, this very useful book is also of great
value as a preventive guide in the drafting of aircraft lease and financing
contracts. Local aviation law experts from 32 jurisdictions worldwide provide
in-depth responses, country by country, to an extremely detailed questionnaire
that includes eighty ‘real-life’ questions covering such categories as the
• self-help procedures
• court proceedings
• arbitration and other non-court proceedings
• money claims
• non-consensual liens
• rights and security interests in aircraft
• deregistration powers of attorney
• export permit issues
Fees, time periods, costs of all kinds, remedies, immunities, required
documentation, recognition of foreign judgments, interim measures—all these
and many other crucial considerations are fully explained for each
Loaded with precise, up-to-date information and expert practical guidance,
this book will be of enormous value to aviation lawyers, counsel for aircraft
owners and operators, receivers, export credit agencies, banks, lessors and
investors with interest in the aviation industry.
Country-by-country practical guide to aircraft repossession rules and
Written by local aviation law experts from 32 countries worldwide
Based on extremely detailed questionnaire covering a very wide range of
Ensure the best possible outcome of an aircraft default event in any region of
Be prepared for unanticipated aircraft default events
Draft aviation contract terms to accommodate a wide variety of jurisdictions
1. Argentina; R.N. Maciel. 2. Aruba: B.P.
Honnebier 3. Australia; I. Wallace, C. Forster. 4.
Belgium; M. Wouters. 5. Brazil; R. Lynch, A. L. Derenusson.
6. Canada; R. Desgagnes. 7. Chile; J. M. Bambach S,
Claudio Campos B. 8. China; Liu Yi. 9. Denmark; M.
Lundqvist Jakobsen, M. Christensen. 10. Finland; H.
Hedman, K. Kultakuusi. 11. France; R. Jadot. 12.
India; R. Nath. 13. Ireland; C. Quinn. 14. Japan;
S. Kozuka. 15. Kenya; S. Muthaura. 16. Mexico; C.
Sierra. 17. The Netherlands; B.J.H. Crans, R. Polak, M.-J. Blaak.
18. Nigeria; L. Fubara Anga. 19. Pakistan; K. N.
Kabraji, S. Mumtaz. 20. Paraguay; A. Piera. 21.
Portugal; C. da Sousa e Brito. 22. Russia; V. Bortkevicha.
23. Singapore; Lok Vi Ming, G. Asokan, M. Seah, J. Lim. 24.
South Korea; Young Kyun Cho. 25. Spain: Tomàs
Fernandez-Quiros, Julio Lopez Quiroga. 26. Sri Lanka; Lasantha
Hettiarachchchi. 27. Sweden; J. Dernestan, A. Zettergren, H.
Riese, C. Grunditz. 28. Switzerland; P. Hünerwadel, T. Luginbühl.
29. Thailand; F. Evans, Pajaree Thongvanit, Kanidha Devakul.
30. United Kingdom; P. Farrell. 31. United States; E. K.
Gross, D. N. Gerber, M. J. Edelman. 32. Venezuela; J. Pate, G.
Sosa, T. J. Pate.