Event: UNIDROIT Space Protocol

February 1, 2011 at 10:19 am | Posted in Space Law Current Events | Leave a comment

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 http://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

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