Ihab Arja Speaks at the the 4th MECAS Middle East Corporate Aviation Summit
Ihab a keynote speaker of the “Financing and leasing business jets in the Middle East”
Ihab Arja, Senior Associate / Aviation Expert at Al Jallaf Advocates & Legal Consultants, participated as a keynote speaker of the “Financing and leasing business jets in the Middle East” discussion panel at the 4th MECAS Middle East Corporate Aviation Summit which was held on Wednesday 13th February 2019 at Hotel Novotel World Trade Centre Dubai, UAE.
Ihab delivered a comprehensive overview of the Cape Town Convention & the Aircraft Protocol thereto, both ratified by the UAE on 29.04.2008 and entered into force on 01.08.2008.
He highlighted that the principal objective of the Convention is to ensure efficient financing of high value mobile equipment such as aircraft, in order to create the required confidence, and to make the operations as cost effective and affordable as possible, through providing effective tools, including: creation of “international interests” recognized by all Contracting States, Providing basic “default remedies” and “insolvency-related remedies” to creditors and establishing a centralized electronic 24/7 “international registry” for international interests, giving notice to third parties and preserving priority as against later registrations and unregistered interests.
He discussed the current situation in the UAE regarding the application of the Convention and the Protocol and the challenges pertinent thereto including; The UAE does not recognize “self-help” remedies; hence, any remedies available to the creditor under the Convention may be exercised only with leave of the court, and the lack of active procedure for the enforcement of IDERA which does not require court approval.
He provided some recommended procedures to make full use of the same to be beneficial to the aviation stakeholders in the country.
Ihab also delivered some proposed measures and solutions to mitigate the risks in Aviation Financing sector, by adopting the blockchain technology and smart contracts for managing such transactions.
ABOUT THE AUTHOR
Ihab is an Italian attorney-at-law and expert in the aviation sector. He has been engaged in commercial and regulatory law practice for many years, with a focus on aviation.
He has an extensive experience in high-profile litigation, aircraft financing and leasing, aviation regulation, aircraft accident investigations and policy & business aviation issues.
During his career, he has been actively involved in a full range of legal matters arising in the aviation industry, including drafting aviation legislations, participating in major Privatization and Public–Private Partnership projects, delivering regulatory consultations & proceedings, handling general aviation and commercial issues including sale, purchase and lease of aircraft transactions, aircraft & air navigation services’ insurance and reinsurance, and other environment, security & safety issues.
Ihab has addressed numerous conferences on aviation law and aircraft financing & leasing in the Middle East, Europe and Canada, and published on a variety of issues, including commercial aviation developments, environmental regulation impacting the aviation sector and the Cape Town Convention and its Aircraft Protocol.
He is a member of ICAO’s Commission of Experts of the Supervisory Authority of the International Registry (CESAIR) for the purposes of the Cape Town Convention (CTC) and the Aircraft Protocol.
He has an extensive experience in high-profile litigation, aircraft financing and leasing, aviation regulation, aircraft accident investigations and policy & business aviation issues.
During his career, he has been actively involved in a full range of legal matters arising in the aviation industry, including drafting aviation legislations, participating in major Privatization and Public–Private Partnership projects, delivering regulatory consultations & proceedings, handling general aviation and commercial issues including sale, purchase and lease of aircraft transactions, aircraft & air navigation services’ insurance and reinsurance, and other environment, security & safety issues.
Ihab has addressed numerous conferences on aviation law and aircraft financing & leasing in the Middle East, Europe and Canada, and published on a variety of issues, including commercial aviation developments, environmental regulation impacting the aviation sector and the Cape Town Convention and its Aircraft Protocol.
He is a member of ICAO’s Commission of Experts of the Supervisory Authority of the International Registry (CESAIR) for the purposes of the Cape Town Convention (CTC) and the Aircraft Protocol.