To which major air law treaties is your state a party? Is your state a party to the New York Convention of 1958?
The British Virgin Islands (BVI) is not a signatory (or a party by extension from the UK) to the Rome Convention, the Geneva Convention, the Chicago Convention or the Cape Town Convention.
In relation to the Chicago Convention, however, certain provisions of that Convention, with which the United Kingdom is obliged to ensure that its overseas territories (including the BVI) comply, are reflected in the Air Navigation (Overseas Territories) Order 2013.
The BVI is, by Order-in-Council from the United Kingdom, a party to the New York Convention.
2. Domestic legislation
What is the principal domestic legislation applicable to aviation finance and leasing?
The principal domestic legislation is:
- the Air Navigation (Overseas Territories) Order, 2013 as amended; and
- the Mortgaging of Aircraft and Aircraft Engine Act, 2011.
3. Governing law
Are there any restrictions on choice-of-law clauses in contracts to the transfer of interests in or creation of security over aircraft? If parties are not free to specify the applicable law, is the law of the place where the aircraft is located or where it is registered the relevant applicable law?
Save for public policy considerations, there are no restrictions under BVI law on the parties’ freedom to choose the governing law of such arrangements.
Reproduced with permission from Law Business Research Ltd. Getting the Deal Through: Aviation Finance & Leasing 2019, (published in May 2019; contributing editors: Mark Bisset, Clyde & Co LLP). For further information please visit https://gettingthedealthrough.com/area/66/jurisdiction/128/aviation-finance-leasing-british-virgin-islands/