Convention to Participation in the Cape Town
Discount List
International Interests in Mobile
Equipment ("CTC") is a multinational
convention intending to harmonize and
standardize transactions, involving certain
movable assets. The CTC establishes
global requirements and standards in
terms of registration of sales contracts,
leases, security interests as well as setting
out legal remedies for events of defaults.
As of today, 74 states are parties to
the CTC, yet the CTC has been ratified/
accepted or approved by 62 of them.
Becoming a Party to the CTC
the Convention on International Interests
in Mobile Equipment on Matters Specific
to Aircraft Equipment ("Protocol") on
November 16, 2001, and after about 10
years following the execution, the Turkish
Council of Ministers ratified the CTC and
the Protocol with a decree as published in
the Official Gazette on July 4, 2011, and
numbered 2011/1926.
Council of Ministers set out that the CTC
and the Protocol would come into effect in
Turkey as of December 1, 2011, and that
had been the case for Turkey.
Upon CTC and the Protocol's entering
into force as of December 1, 2011, in
Turkey, several steps have been taken
by different parties in order to ensure
their full implementation in the Turkish
territory.
Given the existence of substantial
conflicts between Turkish laws and the
provisions of the CTC/Protocol, Turkey
had to spend considerable effort to
incorporate the CTC/Protocol into its local
laws. As a matter of fact, the general
principle under Turkish law is that in
case of a conflict between a piece of law
and a regular international treaty, they are
both deemed to be at the same level in
terms of hierarchy of laws. On the other
hand, the Turkish Constitution provides
that international treaties in the area of
fundamental rights and freedoms will have
primacy over any conflicting Turkish laws.
Nonetheless, Turkey's efforts to harmonize
with the CTC/Protocol terms have helped
all the parties interested in Turkey to
understand and honor the terms of the
CTC/Protocol.
Standardize Its Local Laws
harmonize the local laws and the terms
of the CTC/Protocol, Turkey has made
significant changes in its then existing
legislation which are outlined below.
As an initial step, a new article
has been introduced into the Turkish
Civil Aviation Law ("CAL") on July 12,
2012. Its purpose was to bring further
clarification that the CTC/Protocol would
have primacy over the local laws in case
of any conflict between the provisions of
the CTC/Protocol and the existing Turkish
legislations. This newly added article
was a repetition of Article 90/4 of the
Constitution, yet it helped to put third
parties on notice that the CTC and the
Protocol have duly been ratified and their
Offices. She has been extensively involved in various cross-
border joint ventures and mergers and acquisitions. She has
represented numerous multinational companies in connection
with their agency, licensing, distribution and technology transfer
agreements. She also is widely recognized for her expertise in
aviation law.
acquisitions deals and conducted due diligence reviews on
target companies from a variety of sectors including aviation,
pharmaceutical, agricultural products, parking lot services and
water distribution. She has drafted and negotiated share purchase
agreements, asset transfer agreements, shareholders and share
pledge agreements and other security agreements.
Beybi Giz Plaza, Maslak Mahallesi,
Meydan Sokak
No: 1 Kat: 31 Daire: 121, Maslak, Sisli
Istanbul, Turkey 34398
+90 212 2781911 Fax
mkoc@zuvinlaw.com.tr
zuvinlaw.com.tr