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CCH Offers One-stop Commercial Aircraft Transactions
(RIVERWOODS, ILL., February 23, 2001) Attorneys and others involved in
the multi-faceted legal and business aspects of aviation can now find the primary source
materials they need all in one place. Commercial Aircraft Transactions, from CCH
INCORPORATED (CCH), is a two-volume, loose-leaf reference that brings together the array
of laws and regulations involved in the complicated business of registering, buying,
selling, leasing, securitizing and insuring commercial aircraft. (For more information or
to subscribe to Commercial Aircraft Transactions, call 1-800-449-6435 or visit the
CCH Online Store at http://business.cch.com/onlinestore.)
According to Sharon Schlatterer, marketing manager for CCHs Business and Finance
Group, Commercial Aircraft Transactions ties together the important legal issues
that apply to this unique area of law.
"Aircraft transactions often involve a unique mixture of state, federal and
international law," Schlatterer said. "The fact that the assets involved are
both very valuable and, by nature, mobile, adds new dimensions to the concerns faced in
their sale, lease and financing. Now, practitioners wont have to hunt through dozens
of disparate sources to find what they need."
Comprehensive Array of Materials
Author William H. Callaway, Jr. has brought together, in ten divisions, a comprehensive
array of primary source materials relating to all aspects of aircraft transactions.
Prefacing each division is a brief, incisive introduction pointing out the main features
of the topic.
An Overview division summarizes the basic principles of the subjects that are explored
at length in the rest of the work and provides the text of the Chicago Convention as the
basis for transactional practice in the field. The division on Registration Considerations
contains the statutory and regulatory materials that govern the registration of aircraft
within the United States, including pertinent provisions of the U.S. Code and the Code of
Federal Regulations, along with FAA legal opinions.
The division on Sales Transactions reproduces the relevant sections of the Uniform
Commercial Code and points out the special issues that are normally addressed in aircraft
sales agreements. Similarly, the division on Leasing Transactions contains an extensive
checklist of items to be included in agreements as well as the relevant UCC sections.
The division on Financing Transactions contains extensive materials both on the
structural considerations of such deals including the OECD Agreement on the Large
Aircraft Sector, use of the Delaware LLC Act and the New York Trust Indentures Act
and taking and perfecting security interests, both under the UCC and the Geneva
convention. The Draft Unidroit Convention on International Interests in Mobile Equipment
is also reproduced. The pertinent provisions of Bankruptcy Code and related legislative
histories and court decisions make up the Bankruptcy division, along with the leading
cases under Section 1110 that help frame the debate on this "lightning rod" for
A thorough division on Tax Considerations includes a schedule of tax treaties in force,
the Model Dual Tax Treaty with its official Treasury Department explanation and the
pertinent provisions of Internal Revenue Code and associated regulations.
The division on Insurance Considerations includes a sample certificate of insurance, a
sample certificate of re-insurance, a brokers letter of undertaking and Lloyds
Aviation Underwriters Association standard aviation policy forms and clauses.
The division on Documentation Considerations focuses on issues such as choice of law,
choice of forum, designation of agent for service of process, waiver of sovereign
immunity, arbitration and the procedures required for due execution of transaction
documents. It contains pertinent provisions of New York General Obligations Law and
American Bar Association guidelines on third party "closing" opinions and UCC
secured interest opinions.
The division on Cross-Border Enforcement includes the United Nations Convention on the
Recognition and Enforcement of Foreign Arbitral Awards, the Convention on Unification of
Rules on the Precautionary Attachment of Aircraft, the text of the Foreign Sovereign
Immunities Act and the Uniform Foreign Money Judgments Recognition Act and selected
provisions of the New York Civil Practice Laws and Rules.
Quarterly reports will keep subscribers to Commercial Aircraft Transactions up to date
in the field.
Finding devices include a thorough topical index, a table of cases, a chronological
table of FAA legal opinions, reference tables for the U.S. Code, CFR, state statutes,
international laws, uniform or model laws and a selective bibliography.
About the Author
William H. Callaway, Jr. has more than two decades of experience in aircraft and other
cross-border, asset-based financial transactions. He has represented airlines, financial
institutions and export credit agencies in complex transactions in various parts of the
world, including recent transactions involving airlines and other borrowers located in the
Near East, Europe, Central America, South America, Africa, the CIS and the Far East. Mr.
Callaway also regularly represents and advises foreign and domestic clients before the
Department of Transportation and the Federal Aviation Administration on a broad range of
aviation-related matters. He is currently a
partner with the Washington, DC law firm of Zuckert, Scoutt and Rasenberger, LLP.
Mr. Callaway has been a guest speaker on a variety of aircraft finance and aviation
regulatory issues at conferences sponsored by the Aircraft Financing Subcommittee of the
Business Law Section of the American Bar Association, the Air and Space Law Forum of the
American Bar Association, the Transportation Law Institute, the AirFinance Journal and the
Strategic Research Institute.
Availability and Pricing
For more information or to subscribe to Commercial Aircraft Transactions, call
1-800-449-6435 or visit the CCH Online Store at http://business.cch.com/onlinestore.
Price for a one-year subscription is $800 plus applicable tax, shipping and handling.
About CCH INCORPORATED
CCH INCORPORATED, founded in 1913, has served four generations of business
professionals and their clients. The company produces approximately 700 print and
electronic products for securities, tax, legal, banking, securities, human resources,
health care and small business markets. CCH is a wholly owned subsidiary of Wolters Kluwer
U.S. The CCH web site can be accessed at www.cch.com.
The CCH Business and Finance Group web site can be accessed at http://business.cch.com.
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