CEU Electronic Theses and Dissertations, 2022
| Author | Bence Antonya |
|---|---|
| Title | Expansion of the Cape Town Convention to Maritime and Renewable Energy Equipment: Difficulties and Solutions |
| Summary | Cape Town Convention on International Interests in Mobile Equipment was drafted to standardize transactions involving movable property. This treaty is one of the most important works of the International Institute for the Unification of Private Law (UNIDROIT) in the field of secured transactions law. This establishes a secured transactions system that can ensure a continuous economic growth for sectors that involve high-cost movable property. The Convention was recently expanded with a new Protocol, which includes mining, agricultural, and construction (MAC) equipment. This was possible because of its uniquely flexible system, a key feature that allows its expansion to other areas in the future, too. The basis of this expansion is laid down in Article 51(1) of the Convention, which states that only high-value, mobile and uniquely identifiable equipment could be covered. The strong protection afforded to creditors by the Convention would drastically reduce the borrowing costs for the financing of the pricy renewable energy equipment, thus the speed of the switch to green energy would increase. This Protocol would help uniting the global economy in the protection of the world climate. The other area in which the Convention can achieve success is the financing of maritime equipment. One has to note that the Aircraft Protocol has significantly eased up international aircraft financing, and the parallels between the two industries are easily drawn. These areas, although very different, are ready to be adapted into new Protocols. The first part of thesis is an analysis if the current existing legal framework of maritime financing and the possible applicability to the aforementioned Convention while in the second part it will explore the feasibility of a potential renewable energy equipment Protocol that would significantly reduce the financing of these. |
| Supervisor | Tajti, Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2022/antonya_bence.pdf |
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