ISRAEL Law and Practice Contributed by: Charles Gottlieb and Osnat Issan, Gottlieb Gera & Co Advocates
3.4.5 Secured Parties’ Right to Take Possession of Aircraft See 2.6.2 Lessor Taking Possession of the Aircraft . 3.4.6 Domestic Courts Competent to Decide on Enforcement Actions See 2.6.3 Specific Courts for Aviation Disputes and 3.4.1 Differences Between Enforcing Security Assignments, Loans and Guarantees . 3.4.7 Summary Judgments or Other Relief See 2.6.4 Summary Judgment or Other Relief . 3.4.8 Judgments in Foreign Currencies Israeli law does not preclude secured parties from obtaining a judgment in a foreign currency. 3.4.9 Taxes/Fees Payable The enforcement of a security agreement or an aircraft mortgage by a secured party is subject to the payment of statutory court fees that may range from a nominal amount up to 2.5% of the secured debt. Additional amounts may need to be provided as collateral during the enforcement proceedings. Tax implications of the enforcement of a security agreement or an aircraft charge depend on the facts and circumstances of the parties, the asset and the relevant transaction. 3.4.10 Other Relevant Issues There are no other relevant issues that a lender should be aware of in relation to the enforcement of its rights in Israel. 4. Other Issues of Note 4.1 Issues Relevant to Domestic Purchase, Sale, Lease or Debt Finance of Aircraft There are no other issues of note with regard to the domestic purchase, sale, lease or debt finance of air - craft. 4.2 Current Legislative Proposals There are no significant proposals relating to the fore - going issues at present.
the Pledges Registrar or the Companies Registrar (as applicable). 3.4 Enforcement 3.4.1 Differences Between Enforcing Security Assignments, Loans and Guarantees A loan or a guarantee is generally enforced against the borrower or guarantor through legal proceedings. The enforcement of a registered security assignment requires a court order or an order of the registrar of the execution office, depending on the nature of the secured property. 3.4.2 Security Trustees’ Enforcement of Their Rights As noted in 3.4.1 Differences Between Enforcing Security Assignments, Loans and Guarantees , the enforcement of a registered security assignment requires a court order or an order of the registrar of the execution office, depending on the nature of the secured property. 3.4.3 Application of Foreign Laws Israeli courts will generally uphold a foreign govern - ing law and submission to a foreign jurisdiction with regard to a finance or security document if such choice of law and jurisdiction were made in good faith. The courts may refuse to apply such foreign choice of law and jurisdiction if their application would cause a result that the court determines to be incompat - ible with Israel’s public policy. In certain cases, Israeli courts may also determine that certain mandatory leg - islation (eg, insolvency laws) is applicable to persons, actions or assets located in Israel, notwithstanding the expressed intention of the parties. 3.4.4 Recognition and Enforcement of Foreign Judgments and Arbitral Awards For the recognition and enforcement of foreign judg - ments, see 2.6.6 Domestic Courts’ Recognition of Foreign Judgments/Awards . For the recognition of foreign arbitral awards by Israeli courts, see 2.6.12 Enforcement of Foreign Arbitral Decisions .
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