CÔTE D’IVOIRE Law and Practice Contributed by: Samirah Mogony and Mialy Solofohery, John W Ffooks & Co
3.3 Liens 3.3.1 Third-Party Liens
3.2.10 Transfer of Security Interests Over Aircraft/ Engines The transfer of security interests over an aircraft and/ or engines should be permitted. 3.2.11 Effect of Changes in the Identity of Secured Parties Should the identity of the secured parties under a security assignment change, this should not jeopard - ise the security interests. 3.2.12 “Parallel Debt” Structures The authors are not aware of any parallel debt struc - tures that are used domestically so that the security trustee has an independent right to the secured debt. 3.2.13 Effect of Security Assignments on Residence of Secured Parties A secured party under a security assignment would not be deemed to be resident, domiciled, carrying on business or subject to any taxes in Côte d’Ivoire as a result of its being a party to, or its enforcement of, the security assignment. 3.2.14 Perfection of Domestic Law Mortgages Pursuant to the Civil Aviation Code, any mortgage is only enforceable against third parties from the date of its registration on the Aircraft Register. 3.2.15 Differences Between Security Over Aircraft and Spare Engines It is understood that there is no difference between the form of security (or perfection) taken over an air - craft and that taken over spare engines. Regarding the mortgage, the Civil Aviation Code states that the basis of the mortgage concerns the airframe, the engines, the propellers, the on-board equipment and all parts intended continuously for the service of the aircraft (as long as these belong to the owner of the aircraft), whether they are part of the aircraft or temporarily separated from it. 3.2.16 Form and Perfection of Security Over Bank Accounts Security over a bank account usually takes the form of a pledge over a bank account. A pledge over a bank account should be registered with the tax authority and the RCCM to be enforceable against third parties.
The Civil Aviation Code provides the following list of preferred receivables (privileges) that are paid prior to the mortgagee: • court fees in connection with the sale of the air - craft; • remuneration in relation to the rescue of the air - craft; • costs in relation to the conservation of the aircraft; • debts resulting from the contract of employment of the members of the crew and other persons employed in the on-board service; • royalties for the use of devices and aids to naviga - tion; and • landing as well as parking fees. The third-party creditor needs to register its receiva - bles with the Aircraft Register to benefit from the privi - leges; otherwise, the privileges will lapse three months after the event that gave rise to the existence of the privileges. 3.3.2 Timeframe to Discharge a Lien or Mortgage There is no specific timeframe to discharge a lien or mortgage over an aircraft. 3.3.3 Register of Mortgages and Charges Mortgages and charges are registered with the Aircraft Register, which is publicly available. The interests of an aircraft mortgagee or security trustee can be noted on the Aircraft Register and the effect of such notation is enforceability against third parties. 3.3.4 Statutory Rights of Detention or Non- Consensual Preferential Liens Ivorian law provides a concept of the right of retention. This security allows a creditor that holds a movable asset of its debtor to retain said movable asset until the debtor pays the creditor. However, the law is silent on whether the right of retention arises over an aircraft and/or on a “fleet-wide” basis.
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