ABSTRACT
This chapter examines an area of International Commercial Law of considerable importance: the protection of security interests in high-value assets which are mobile and used across multiple jurisdictions on a regular basis. The advantage of this is that the security interest gives the supplier or lender a proprietary interest in the asset, which can be asserted against a liquidator as well as other creditors who do not have a secured interest over the same asset. The Convention itself is confined to aircraft, railway rolling stock and space assets, but Article 51 provides for the possibility of extending the scope of application to other categories of high-value mobile equipment, as long as each item within such a category is uniquely identifiable. In this context, the two-instrument approach pioneered in the Cape Town Convention might be a template for future action.
