On 8 May 2019, the members of the UNIDROIT Governing Council were invited to take part in the launch of the 4th edition of the Official Commentary on the Cape Town Convention on International Interests in Mobile Equipment and its Aircraft Protocol.
The publication, of which the Secretariat has already sold 173 copies to date (14 May 2019), was presented and discussed by its author Professor Sir Roy Goode CBE, QC, FBA (Emeritus Professor of Law at the University of Oxford) and Professor Jeffrey Wool (Secretary-General of the Aviation Working Group and Professor of Global Business Law at the University of Washington). The Official Commentary, produced by Professor Sir Roy Goode pursuant to a Resolution of the Cape Town Diplomatic Conference, was first published in 2002, and quickly became the definitive guide to the Convention and the Aircraft Protocol. It was last revised in 2013. Much has changed in the intervening five years.
The Convention has now been ratified by 79 States and the Aircraft Protocol by 76 States as well as the EU as Regional Economic Integration Organisation. The experience of the aviation industry, based on the large number of transactions registered in the international registry, which has reached one million registrations in January 2019, has revealed a host of new issues which needed to be addressed. In addition , the International Registry for aircraft objects has been progressively updated, and substantially enhanced facilities are now in the pipeline as well as a revision of the Regulations designed to take effect in 2019 after approval by the Council of ICAO. In this 4th edition, Sir Roy has extensively revised and expanded the Official Commentary to take account of these and other important developments.
The new version of the Official Commentary is an essential guide for all those interested or involved in aviation finance and leasing. Sir Roy Goode has also authored the Official Commentary on the Convention and Luxembourg Protocol as mandated by the Diplomatic Conference in Luxembourg in 2007 as well as the Official Commentary on the Convention and Space Protocol adopted by a Diplomatic Conference in Berlin in 2012, copies of which are available for purchase from UNIDROIT.