PHILIPPINES Law and Practice Contributed by: Kerwin Tan, Eugene Kaw and Veronica Balbin Tan Hassani and Counsels Contents 1. Aircraft and Engine Purchase and Sale p.469 1.1 Sales Agreements p.469 1.2 Transfer of Ownership p.469 2. Aircraft and Engine Leasing p.470 2.1 Overview p.470 2.2 Lease Terms p.471
Luzón
Philippines
Mindoro Manila
Leyte Samar
Negros Panay
Palawan
Mindanao
2.3 Lease Registration p.472 2.4 Lessor’s Liabilities p.473 2.5 Insurance and Reinsurance p.473 2.6 Lease Enforcement p.474 2.7 Lease Assignment/Novation p.476 2.8 Aircraft Deregistration and Export p.476 2.9 Insolvency Proceedings p.478 2.10 Cape Town Convention and Others p.480 3. Aircraft Debt Finance p.480 3.1 Structuring p.480 3.2 Security p.481 3.3 Liens p.483 3.4 Enforcement p.484 4. Other Issues of Note p.485 4.1 Issues Relevant to Domestic Purchase, Sale, Lease or Debt Finance of Aircraft p.485 4.2 Current Legislative Proposals p.485
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