Cape Town Treaty
The Cape Town Convention on International Interests in Mobile Equipment, or Cape Town Treaty is an international treaty intended to standardize transactions involving movable property. The treaty creates international standards for registration of contracts of sale, security interests, leases and conditional sales contracts, and various legal remedies for default in financing agreements, including repossession and the effect of particular states' bankruptcy laws.
Four protocols to the convention are specific to four types of movable equipment: Aircraft Equipment, railway rolling stock, space assets and "Mining, Agricultural and Construction Equipment". The aircraft Protocol entered into force in 2006, while the others are not in effect.
The treaty resulted from a diplomatic conference held in Cape Town, South Africa in 2001. The conference was attended by 68 countries and 14 international organizations. 53 countries signed the resolution proposing the treaty. The treaty came into force on 1 April 2004, and has been ratified by 57 parties. The Aircraft Protocol took effect on 1 March 2006 when it was ratified by 8 countries: Ethiopia, Ireland, Malaysia, Nigeria, Oman, Panama, Pakistan, and the United States.
Signatures and ratifications
As of 2018, the convention has been ratified by 77 states as well as the European Union. The railway rolling stock and the space protocols have been ratified by respectively three countries, as well as the European Union, and no countries and thus have not taken effect. An overview of the status of the treaty and protocols is shown below:| Instrument | Signature | Location | Entry into force | Signatures | Ratifications |
| Convention | Cape Town | 28 | 78 | ||
| Aircraft Protocol | Cape Town | 23 | 74 | ||
| Railway Rolling Stock Protocol | Luxembourg | - | 8 | 3 | |
| Space Assets Protocol | Berlin | - | 4 | 0 | |
| Mining, Agricultural and Construction Equipment | Pretoria | - | 4 | 0 |
European Union
The European Union joined the convention and the Aircraft Protocol as a Regional Economic Integration Organization. On the subject of the convention, both the Member states of the European Union and the Union itself have competence: e.g. while the substantive law regarding insolvency is regulated by the states, the conflict of law-rules is regulated by the European Union. According to the Government of the Netherlands the acceptance of the European Union in a member state which itself is not a party to the convention has no practical consequences. The European Union ratified the Luxembourg Rail protocol in December 2014 as a Regional Economic Integration Organization on the same basis.Protocols
Aircraft Protocol
The aircraft Protocol was signed immediately with the treaty and the only protocol currently entered into force. It applies to aircraft which can carry at least eight people or 2750 kilograms of cargo, aircraft engines with thrust exceeding or, and helicopters carrying five or more passengers. The International Registry of Mobile Assets established to record international property interests in the aircraft equipment covered by the treaty is located in Ireland. Mediation cases for leasing disputes are to be heard in the High Court of Ireland. As of 2018, the protocol has 73 contracting parties, which includes 27 states and the European Union.| State | Date of Ratification/ Accession | Comments |
| New Brunswick: effective 1 July 2016 Yukon: effective 1 October 2014 others: 1 April 2013 | ||
| Excluding | ||
| Only as far as it has competency over subjects of the convention/protocol. Not applicable to Denmark | ||
| Not European Netherlands Only for | ||
| Extended to Cayman Islands, Gibraltar and Guernsey, and the Isle of Man and Bermuda | ||
Railway Rolling Stock
The Railway Rolling Stock Protocol, or Luxembourg Rail Protocol, officially the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Railway Rolling Stock was adopted on 23 February 2007 at a diplomatic conference in Luxembourg and applies to railway rolling stock.The protocol establishes an international registry located in Luxembourg at which all international interests under the protocol will be registrable. The registry will also issue unique identifiers for rolling stock on request. Regulis S.A., a subsidiary of SITA, was appointed in November 2014 to act as Registrar. The protocol requires ratification by 4 countries, together with a certification by the secretariat to the Supervisory Authority that the registry is fully operational, in order to enter into force. Currently, it has been signed by France, Gabon, Germany, Italy, Luxembourg, Mozambique, Switzerland, Sweden, the UK as well as the European Union, while it has been ratified by the European Union and 3 states: Gabon, Luxembourg and Sweden.