THE FUTURE OF AVIATION FINANCE (14 and 21 March 2018)
Asian Institute of International Financial Law
Faculty of Law, The University of Hong Kong
Two Lunchtime Seminars
THE FUTURE OF AVIATION FINANCE
‘Take–off’, Wednesday 14 March 2018, 12:30–1:30 pm
The Cape Town Convention: Introduction & Assessment
‘Landing’, Wednesday 21 March 2018, 12:30–1:30 pm
Hong Kong & the Cape Town Convention
Venue: Academic Conference Room, 11/F Cheng Yu Tung Tower, The University of Hong Kong
An eminent scholar calls the Cape Town Convention on International Interests in Mobile Equipment a ‘significant innovation’ in international law-making. It has also allowed unprecedented growth in global aviation finance, a sector once plagued by poor credit risk and enforcement conflicts. These seminars assessed the Convention’s commercial importance and how it may influence Hong Kong’s future as an aircraft finance hub.
The Convention is a transnational protocol providing a framework for registering and enforcing secured claims over aircraft and aero–engines. The first seminar introduced the Convention and discuss practical considerations in its implementation, how it interacts with local law in allowing the cross–border enforcement of collateral, and the policy considerations associated with acceding to private international declarations.
With Hong Kong’s administration wishing to encourage aircraft leasing and financing, a case can be made for the territory to implement the Convention and its associated Protocol on Matters specific to Aircraft Equipment. The second seminar discussed the legal infrastructure needed to support that initiative, and the local law considerations of adopting the Convention, especially in relation to local, mainland and foreign operators.
Tejaswi Nimmagadda is a Registered Foreign Lawyer (England & Wales) with King & Wood Mallesons in Hong Kong. He has broad experience in asset finance and leasing; infrastructure and project finance; corporate and leveraged finance; and securitisation. Tejaswi’s practice embraces all aspects of aircraft financing and leasing, including pre-delivery payment financing, official export credit supported financing, operating and finance leasing, sale and lease–backs, structured financing, portfolio acquisitions and sales, EETCs and portfolio securitisations. He acts regularly for financiers, lessors, aircraft owners, borrowers, issuers and airlines, managers and fleet operators. Tejaswi is admitted to practice in England & Wales, New York, and New South Wales. In 2014–5 he assisted the Australian Federal Government in implementing the Cape Town Convention.