SENEGAL Law and Practice Contributed by: Claudy Monja and Mampionona Razafimamonjy, John W Ffooks & Co
3.2.7 Formalities/Mandatory Terms to Create and Perfect Security Assignments It is a requirement to have a written contract or docu - ment, including in particular the designation of the secured claims and the assigned claims with their accessions and future claims; their individualisa - tion and identification must be made possible in the assignment deed. The registration of such an assign - ment is also advisable in order to be enforceable. Tak - ing into account that, under Senegalese law, rights may be fully enforced against parties via judicial pro - ceedings and that, according to the Senegalese Civil Procedure Code, all documents filed with the courts, if demanded by the judge, should be translated into French, in such a circumstance it is necessary to file a translation of those documents duly certified by a translator registered in the list of experts. 3.2.8 Domestic Law Security Instruments Assignments of security interests governed by English or New York law over an aircraft registered in Senegal are permitted, especially where the lease is interna - tional and the lessor is a foreigner not domiciled in Senegal. The ANACIM does not currently transfer any registration to the Cape Town International Registry. Therefore, it is the responsibility of the parties or the lessor to deposit their international guarantee in Cape Town. If the aircraft is registered in Senegal, it is up to the parties or the lessor to make the same registra - tion locally. The execution of the guarantees carried on the international register of the Cape in Senegal is simple – it will only be necessary to bring an official act delivered by Cape Town to the ANACIM and, if the document is in conformity, the Civil Aviation Author - ity will proceed to the execution of the international guarantee. For guarantees registered on the national register, it will be necessary to look for an enforceable title delivered by a judge. Senegal does not have a register for the registration of assignments of security interests made under the rules of a foreign law. Therefore, no registration will be made in Senegal. Furthermore, if the assignments of interests concern an aircraft registered in Senegal, an entry must be made in the local register. 3.2.9 Domestic Registration of Security Assignments Governed by Foreign Laws
3.2.10 Transfer of Security Interests Over Aircraft/ Engines The transfer of such security interests is not recog - nised. However, if the parties’ leasing agreement so provides, there will be no problem. 3.2.11 Effect of Changes in the Identity of Secured Parties The regime of assignment of securities is not recog - nised by Senegalese law (for more details, refer to the Cape Town Convention). 3.2.12 “Parallel Debt” Structures The concept of “parallel debt” can be used by domes - tic structures. However, this legal regime is not organ - ised, so parties may refer to New York law. 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 or domiciled in Senegal and would only be subject to taxes if it received any income in Senegal. 3.2.14 Perfection of Domestic Law Mortgages It is necessary to file a domestic law mortgage over an aircraft or engine with the Aircraft Register to produce legal effects. 3.2.15 Differences Between Security Over Aircraft and Spare Engines There are no differences between the form of security (or perfection) taken over an aircraft and that taken over spare engines. 3.2.16 Form and Perfection of Security Over Bank Accounts The security used to take security over a bank account is an on-first-demand bank guarantee, by which the bank, at the request of its beneficiary, should imme - diately make payment of the secured amount or a pledge account. 3.3 Liens 3.3.1 Third-Party Liens A third party can take or register a lien over an aircraft and its accessories. Under Article 57 of the Civil Avia - tion Code, third parties can hold liens over:
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