Navigating the (Flight) Path for Security Interests in Aircrafts

Produced on: November 09, 2017

Course Format On Demand Audio

Taught by


Course Description

Time 64 minutes
Difficulty Advanced

This program, presented by Nicole Chong of of Smith, Gambrell & Russell LLP, will explore how to properly perfect a creditor’s security interests in U.S. registered aircrafts. Topics to be covered include the interplay of the Uniform Commercial Code, the U.S. Transportation Code, and related Federal Aviation Regulations (FARs).

The program will also provide an overview of the Cape Town Convention on International Interests in Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment (more commonly referred to as the Cape Town Convention).

Learning Objectives:

  1. Become familiar with the necessary filing and registration requirements at the state, federal, and international levels when dealing with aircraft and aircraft engines
  2. Review which relevant laws to look to when determining how to perfect security interests in your client’s aircrafts
  3. Comprehend the complexities of the Cape Town Convention


Nicole Chong

Smith, Gambrell & Russell, LLP

Ms. Nicole Chong is an associate at Smith, Gambrell & Russell, in its aviation and financing practices. A significant portion of her clients are aircraft leasing companies, whom she represents in financing, acquisition and leasing transactions. On their behalf, she negotiates and writes or reviews the agreements and other instruments necessary to evidence the undertakings of the parties to the transactions. She also manages and guides the transaction process.

In financing transactions, the aircraft leasing companies are typically borrowers dealing with sophisticated lenders that require meticulous assurance of repayment by means of obtaining security interests in various assets of the aircraft lessors. She often negotiates security agreements, such as mortgages, assignments and pledges, advises on where to record the agreements, and opines on the enforceability of the agreements against the borrowers and third party creditors.

Ms. Chong studied and earned a Juris Doctor at Emory University School of Law. Her studies focused on law related to business transactions, under the university’s Transactional Law Program, and she simultaneously earned a Transactional Certificate along with her JD degree. She later studied and earned a Master of Laws in taxation at New York University School of Law.

As part of her pro bono efforts, Ms. Chong advises small, tax-exempt non-profit organizations on governance matters and maintaining tax-exempt status and writes the governing instruments of the organizations, e.g., the by-laws, conflict of interest policy, and employee code of conduct.


Gal G.

Great class

Andrew P.

Very good introduction to the subject

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$ 59 Business, Corporate, & Securities Law and Aviation & Aerospace In Stock


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