Event: UNIDROIT Space Protocol

by P.J. Blount with the blog faculty Source – London Institute of Space Policy and Law: UNIDROIT Space Protocol: Workshop 9 February 2011 The Workshop will address the proposed adoption of the UNIDROIT Space Protocol, its legal and commercial merits. It will be highly participatory, with discussion following several brief presentations. PRACTITIONER AND INDUSTRY WORKSHOP WEDNESDAY 9 FEBRUARY 2011 8:45 TO 13:00 FINANCING SPACE ASSETS: THE UNIDROIT SOLUTION EXAMINED CONVENTION ON INTERNATIONAL INTEREST IN MOBILE EQUIPMENT: SPACE PROTOCOL Funding the acquisition and operation of satellites and other space objects present the same challenges as those associated with any high value equipment. In addition their location outside any territorial jurisdiction adds to the complexity of the funding transaction. The International Institute for the Unification of Private Law (Unidroit), in a departure from its normal practice of harmonising the rules of national law on a given subject with a view to promoting international commerce, has promoted a Convention on International Interests in Mobile Equipment.1 The Convention seeks to promote and expand the availability of asset- based financing in respect of high-value mobile equipment normally moving from country to country or beyond any national jurisdiction in the ordinary course of business. The Convention has been applied to aircraft and rolling stock by means of protocols relevant to those assets. Unidroit proposes the application of the Convention by means a Space Protocol. The aim is to provide the creditor with greater legal certainty to facilitate grant of assets based finance in respect of assets it may otherwise find difficult to repossess or control. However, many in the sector have legitimate concerns about the Protocol and its operation. Several governments are in the process of reviewing and deciding whether to adopt the Protocol. This Workshop will examine the efficacy of the Space Protocol to achieve greater availability and ease of funding for space projects. It will explore the needs of operators, financiers and insurers. Professor Roy Goode has graciously agreed to present the Protocol and outline the obstacles to funding space equipment and the solution proposed. There will be an examination of the legal basis for the Protocol in the context of the Convention, its perception by those directly affected by its operation. This highly participatory Workshop will discuss the issues from all relevant perspectives. The Fee for the Seminar is: Delegate £50 Academic and Government £25 Student Free To register please send your name and affiliation, by e-mail headed "Unidroit Workshop" to: Events@Space-Institute.org, or use the booking form below. AND send the Fee* to: Co-operative Bank Sort Code: 08-92-99 Account Number: 65345920 Account Name: London Institute of Space Policy and Law Reference: [Your name followed with "Unidroit"] *Most banks make no charge for a BACS transfer. 1 The text of the Convention may be accessed at www.unidroit.org. PROGRAMME OUTLINE WEDNESDAY 9 FEBRUARY 2011 8:45 TO 13:00 AT CHARLES CLORE HOUSE 17 RUSSELL SQUARE LONDON WC1B 5DR Chairman: [To be confirmed] 8:45 – 9:30 Unidroit Perspective The Perceived Problem, the Convention and Protocol, Solution Protocol Proposes to Provides; Current status of UNIDROIT Process Professor Roy Goode 9:30 – 10:00 Legal Issues The Legal Structure, Purpose of the Convention, Protocol in the Context of the Convention, Definitional Issues Sa'id Mosteshar ISPL Director 10:00 – 10:45 Potential Beneficiaries Developing Country Operator TBC Small Satellite Operator Kumar Singarajah Director of Regulatory Affairs, Avanti; ISPL Faculty 11:00 – 11.45 Operators' Perspective Satellite Operator Ann Vandenbroucke Manager – Regulatory and Policy Issues, Inmarsat; ISPL Faculty Aarti Holla Secretary General, European Satellite Operators' Association 11:45 – 12:15 Finance Sector Perspective Wim N Steenbakkers ING Bank 12:15 – 12:45 Insurance Perspective Impact on insurance availability and premiums Neil Stephens General Counsel – Space, Atrium Space Insurance; ISPL Faculty

Read more detail on Recent Aviation Law Posts –

This entry was posted in Aviation Law and tagged , , , . Bookmark the permalink.

Leave a Reply