UNIDROIT

The Cape Town Convention of 2001 and the Luxembourg Protocol signed in 2006 created useful mechanisms for railway undertakings that want to acquire new rolling stock by borrowing capital. Creditors lending the money to the railway undertakings can obtain rights over the rolling stock by recording their interests in an international registry created for the purpose. This forms a sort of mobile mortgage which can allow creditors to have rolling stock operating in any state which has ratified the convention seized.

Files

Cape Town Convention
Cape Town Convention
March 1, 2006

Cape Town Convention on International Interests in Mobile Equipment

The convention was concluded at a diplomatic conference held in Cape Town in November 2001. The convention provides for an international legal regime for the creation, perfection and priority of security, title retention and leasing interests in aircraft equipment, railway rolling stock and space assets.

Applicable with effect from 1 March 2006

34 pages

Downloads available:

Cape Town Convention on International Interests in Mobile Equipment

The convention was concluded at a diplomatic conference held in Cape Town in November 2001. The convention provides for an international legal regime for the creation, perfection and priority of security, title retention and leasing interests in aircraft equipment, railway rolling stock and space assets.

Applicable with effect from 1 March 2006

34 pages

Luxembourg Protocol
Luxembourg Protocol
Feb. 23, 2007

Luxembourg Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Railway Rolling Stock

The Luxembourg Protocol to the Convention provides for the application of the convention to railway rolling stock. It establishes an international registry to record leasing interests, with a view to reducing the risks and costs involved in financing high-value mobile equipment. The protocol was signed in Luxembourg in 2007 but has not yet entered into force.

Date of signature 23 February 2007

22 pages

Downloads available:

Luxembourg Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Railway Rolling Stock

The Luxembourg Protocol to the Convention provides for the application of the convention to railway rolling stock. It establishes an international registry to record leasing interests, with a view to reducing the risks and costs involved in financing high-value mobile equipment. The protocol was signed in Luxembourg in 2007 but has not yet entered into force.

Date of signature 23 February 2007

22 pages