Breakfast briefing: how the Luxembourg Rail Protocol will transform the rail sector in Spain


Date: 22 June 2016
Time: 09.00 - 11.00    Venue: Bird & Bird, Jorge Juan 8, 2nd floor, Madrid, 28001


At the end of February 2016, the United Kingdom signed the Luxembourg Rail Protocol to the Cape Town Convention on International Interests in Mobile Equipment.

Following the recent accession of Spain to the Aircraft Protocol in March 2016, Spain must also move forward to join the Rail Protocol which shall result in a new set of creditor protection rules, which will apply globally and will make financing and leasing of rolling stock in, or to Spain more secure, easier and cheaper. When implemented, the Luxemburg Protocol will facilitate efficient low-risk and low-cost private finance for rolling stock in Spain setting the base for a more competitive and dynamic rail industry fit for the 21st century.

It is the goal of this breakfast briefing to provide an overview on what is the Luxemburg Rail Protocol and what are the economic benefits that may arise from its implementation in Spain.

Bird & Bird is a member of the Rail Working Group, a not-for-profit rail industry association, established at the request of UNIDROIT (the International Institute for the Unification of Private Law) to represent the position of the rail industry relating to adoption and implementation of the 2007 Luxembourg Protocol to the Cape Town Convention on International Interests in Mobile Equipment on matters relating to railway rolling stock (the Luxembourg Rail Protocol).

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The programme

09.00 - 09.15

  • Welcome and register

09.15 - 09.30

  
09.30 - 10.00

Session 1: 

  • Overview of the Cape Town System, a protocol for the rail industry in Mobile Equipment.
    Benjamin von Bodungen. Of-Counsel, Bird & Bird, Frankfurt.

    Benjamin is specialised in cross-border financing and leasing, especially the financing of mobile equipment, such as aircraft, railway  rolling stock and ships in, or from Spain. Benjamin is a member of the management committee of the Rail Working Group which is pursuing the implementation of a protocol for the rail industry to the 2001 Cape Town Convention on International Interests in Mobile Equipment.
    He is also member of the UNIDROIT Study Group on a Fourth Protocol to the Cape Town Convention on Matters Specific to Mining, Agricultural and Construction Equipment (MAC Protocol).
    Benjamin is a Professor of German and international commercial and corporate law, finance and tax law at the German Graduate School of Management and Law (GGS) in Heilbronn.

10.00 - 10.15

  • Coffee break

10.15 - 10.45

Session 2: 

  • The Aircraft Protocol as valuable experience when approaching the accession to the Rail Protocol by Spain.
    Teresa Rodríguez de las Heras Ballell. Associate Professor in Commercial Law at the University Carlos III of Madrid, Deputy ViceChancellor in International Relations and Cooperation and Member of the AWG’s Spanish Contact Group for Work Relating to the Cape Town Convention and Its Aircraft Protocol for Implementation in Spain. 

    She is also member of the UNIDROIT Study Group on a Fourth Protocol to the Cape Town Convention on Matters Specific to Mining, Agricultural and Construction Equipment (MAC Protocol).
    Teresa was actively involved in the market discussions and lobbying process that led to the accession to the Aircraft Protocol by Spain and is currently participating with the Rail Working Group in Spain in its goal of pursuing the implementation of a protocol for the rail industry to the 2001 Cape Town Convention on International Interests in Mobile Equipment.

10.45 - 11.00

  • Questions

Location map