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5 Cape Town Convention J. 1 (2016)

handle is hein.journals/captowjo5 and id is 1 raw text is: Cape Town Convention journal, 2016 1Z Routledge Vol. 5, No. 1, 1-21, http://dx.doi.org/10.1080/2049761X.2016.1252136 R Taylor&FrancdsGroup CTC in Europe: assessment of ratifications to date and implications of Brexit on the ratification by the UK Kenneth Gray* Since the Cape Town Convention (CTC) first came into force in 2006, the rate ofratifications by European jurisdictions has dramatically accelerated. Seventeen jurisdictions forming part the European continent, including nine currently within the EU, are now Contracting States. Six of those have ratififed within the past two years alone. In ratifying the CTC, the European Union (EU) has asserted competence in respect of those provisions regarding choice of law, jurisdiction and insolvency. That assertion, ifcorrect, leaves the Member States unable to make declarations in respect of those matters. On 23June 2016, a referendum in the UK on its continued membership of the EU resulted in a vote to leave. The departure of the UK from the EU raises the question of whether any further action is required by the UK in connection with its ratification, whether any new declarations will be required to be made by the UK and whether any new legislation will be required in the UK to ensure that the CTC remains in effect. * Kenneth Gray is a Consultant at Norton Rose Fulbright LLP and has 30 years' experience of advising on banking and security law globally. He joined Norton Rose (as it then was) in 1986, founded its Paris office in 1990 and became a Partner in 1993. He has been a Consultant to the practice since 2006. Kenneth focuses primarily on strategic issues (such as Brexit, the impact of new sources of finance, the implementation of the Basel Accords and the Cape Town Convention). Kenneth has an MA from Cam- bridge University and has qualified as a solicitor in England and Wales and as an avocat at the Paris bar. He is a member of the Legal Advisory Panel to the Avia- tion Working Group. Anna Veneziano of Unidroit, Rasmus Mandoe Jensen and Mette Riber Rasmussen of Plesner, Denmark, Max Ganado, Daniel Aquilina and Matthew Xerri of Ganado Advocates, Malta, Pl Sveinsson of Arntzen de Besche Advokatfirma AS, Norway, Maxim Astafiev, Deputy Director of Legal Support, S7 Group, Russia, Teresa Rodriguez de las Heras Ballell , Universidad Carlos III de Madrid, Spain, Henril Ossborn and Fredrik Christiansson of Advokatfirman Vinge KB, Sweden and Ivan Zievakov of Lexwell and Partners, Ukraine have all assisted with, and provided content for, this article. I am grateful for their invaluable assistance. Any errors are my responsibility. 1. Introduction In the 10 years since the Convention on Inter- national Interests in Mobile Equipment (the 'Cape Town Convention' (CTC)) and the Protocol thereto on Matters Specific to Aircraft Equipment (the 'Protocol', and together the 'Convention') first came into force in 2006, they have been ratified by 17 jurisdictions wholly or partly forming part of the European continent,' of which nine are currently in the European Union2 (EU). The EU has itself rati- fied the Convention as a 'Regional Economic Integration Organisation'. This paper considers: (a) the ratification of the Convention by the EU; Albania, Belarus, Denmark, Gibraltar, Guernsey, Ireland, Latvia, Luxembourg, Malta, Norway, Russia, San Marino, Spain, Sweden, Turkey, Ukraine and the UK. 2 Denmark, Gibraltar, Ireland, Latvia, Luxembourg, Malta, Spain, Sweden and the UK. C 2016 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group This is an open-access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/icenses/ by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Cape Town Convention journal 2016 1

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