Vedder Price Shareholder and Chair of the Global Transportation Finance team, Dean N. Gerber, co-authored the article "The Cape Town Convention aircraft protocol’s substantive insolvency regime: a case study of Alternative A" in the March 2017 edition of Cape Town Convention Journal.

The article provides a brief history of insolvency law followed by an outline of the content, development, and intended impact of Alternative A. Section 1110 and Alternative A are then compared, as an aid to interpretation of the latter. Finally, the authors provide a case study applying Alternative A, designed to set out the intended application, interpretation, and effect of Alternative A. That case study – and such intended outcomes – underscores that the economic value of Alternative A is linked to the commercial predictability it provides, which is the main reason why courts have no discretion to modify its terms.

Download the complete article below. (Originally published in the Cape Town Convention Journal).