Aircraft Repossession

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8

th

International

Aircraft Repossession

Tuesday 21st April 2015

Dublin, Ireland

Networking Lunch Sponsored by

Delegate Badges Sponsored by

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AGENDA

Tuesday 21

st

April 2015

Chairman: David Chamberlain, Senior Associate, Watson, Farley & Williams

9.00 Registration & Networking Coffee

9.30 Opening Remarks from Aeropodium

Panagiotis Panagopoulos, CEO & Founder, Aeropodium

Opening Remarks from the Chairman

David Chamberlain, Senior Associate, Watson, Farley & Williams

SESSION I

9.40 Securing aircraft assets

Jan Michael Bosak, General Counsel and Chief Compliance Officer, Elix Aviation Capital

10.10 When is the right time to plan a repossession?

Roland McKay, Principal, KAYWAY AERO

10.40 The law of enforcement and the role of the UK as a vital hub for repossessions

Claire Sandbrook, CEO, Shergroup 11.10 Networking Coffee Break

SESSION II

11.40 Aircraft repossession in emerging countries

Yves Lavigne, President, World Assets Transition (WAT)

12.10 Technical challenges during a repossession

David Louzado, Principal Consultant, ICF International

12.40 The successful repossession of an aircraft may not include its nationality

de-registration. How can a 'Kingfisher' problem be solved?

Prof. Patrick Honnebier, Of Counsel, Gomez and Bikker Law Offices, Aviation Finance Professor, University of Mississippi, Master of Laws (LL.M.) in Air and Space Law Program 13.10 Networking Lunch

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SESSION III

14.30 Planning for an emergency landing: Making sure your lease helps, rather than

hinders, repossession

Richard Mumford, Partner and Head of Aviation, Stevens & Bolton

15.00 Practical legal issues on repossession

Giles Cornwall, Senior Associate, Clark Ricketts

15.30 Aircraft remarketing after a repossession

Ben Jacques, Marketing Director, WNG Capital

16.00 Panel Discussion

How many bankruptcies or repossessions have there been in the last 18 months and how many have you been involved with?

What are your recommended best practices when a repossession becomes possible? What lessons have you learnt from previous experience?

When should repossession not be the recommended course of action How much does a repossession typically cost?

What practical advice can you offer? Ben Jacques, Marketing Director, WNG Capital Alison McKenzie, Partner, Kennedys

Ken Sewell, Head of Aircraft Transactions, IBA

Robert-Jan Temmink, Barrister, Arbitrator and Mediator, Quadrant Chambers 16.50 End of Conference & Concluding Remarks

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SPEAKERS

Jan Bosak, General Counsel and Chief Compliance Officer, Elix Aviation Capital

Jan Michael Bosak is the General Counsel and Chief Compliance Officer of Elix, one of the leading turboprop leasing companies. He is also a guest lecturer at Dublin City University Business School and Maastricht University. Before he joined Elix Jan worked for 5 ½ years as negotiator, in-house counsel and aircraft repossession expert in the Operations Department of the aircraft leasing company AWAS in Dublin and for four years in the banking and capital market department of the law firm Clifford Chance in Frankfurt. He holds a PhD, a master of business law and taxation and a master of comparative law (Frankfurt/Mannheim/Adelaide) and has published 13 academic papers. In spite of his academic back ground he is a hands on lawyer who worked successfully on the swift

repossession/arrest of 27 aircraft.

David Chamberlain, Senior Associate, Watson, Farley & Williams

David is a senior associate in the Asset Finance Group at Watson, Farley & Williams.

David’s main focus is on aircraft finance, leasing and sale and purchase involving commercial aircraft, business jets and helicopters. He advises financiers, owners and operators on a range of domestic and international asset finance transactions as well as on general commercial matters, aircraft interior cabin completions and aircraft repossession.

In the course of his career he has gained transactional experience with a diverse range of assets types including real estate, luxury yachts, rolling stock and aircraft.”

Giles Cornwall, Senior Associate, Clark Ricketts

Giles is a senior associate at the boutique aviation law firm of Clark Ricketts LLP, based on

Kingsway next door the United Kingdom Civil Aviation Authority. Giles trained at Clark Ricketts and works across all practice areas within the firm, focusing primarily on work advising banks, lessors and operators on finance, leasing and operational matters. In addition, Giles works extensively on

corporate aircraft transactions, advising private owners in connection with the operation, management, financing, sale and purchase of aircraft.

Prof. Patrick Honnebier, Of Counsel, Gomez and Bikker Law Offices, Aviation Finance Professor, University of Mississippi, Master of Laws (LL.M.) in Air and Space Law Program

Patrick Honnebier is identified as one of the very few aircraft finance lawyers having obtained the benefits of both worlds. He is a long-standing academic and also he has a vast practical expertise in international aviation finance and lease laws. The combination of scholarly legal knowledge and its direct application in practice makes him a well-rounded aircraft finance lawyer. Honnebier is Of Counsel at Gomez & Biker Law Offices and based in Amsterdam. He advises major manufacturers, banks, lessors, corporate and private operators and airlines in relation to international financing and leasing of aircraft, helicopters and engines. He lectures at the Master of Laws (LL.M.) in Air and Space Law program of the University of Mississippi (Ole Miss), School of Law. He is the professor for the full Spring Semester module International Aviation Financing and Leasing Laws. Worldwide, this academic and practical course is the only one of its kind. Also teaching mobile equipment financing law at the Law Faculties of Utrecht University and Groningen University, the Netherlands. Previously, for ten years responsible for the courses transnational aviation financing law at the International Institute of Air and Space Law, Leiden University and corporate/commercial law at the University of Aruba. Honnebier participated in the Diplomatic Conference for the realization of the Convention on International Interest in Mobile Equipment and the Aircraft Equipment Protocol in Cape Town, South Africa (2001). He was the expert legal counsel of the Governments of Aruba and the former Netherlands Antilles and the Dutch Ministry of Foreign Affairs concerning the adoption by the Kingdom of the Netherlands of the Cape Town Convention on 1 September, 2010. He is the author of numerous articles which are published in all the leading air law journals. Editor of Journaal Luchtrecht/Netherlands Journal of Air Law. Frequently and worldwide Honnebier is a speaker at international aviation finance and lease conferences. Patrick Honnebier is identified as one of the very few aircraft finance lawyers having obtained the benefits of both worlds. He is a long-standing

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academic and also he has a vast practical expertise in international aviation finance and lease laws. The combination of scholarly legal knowledge and its direct application in practice makes him a well-rounded aircraft finance lawyer. Honnebier is Of Counsel at Gomez & Biker Law Offices and based in Amsterdam. He advises major manufacturers, banks, lessors, corporate and private operators and airlines in relation to international financing and leasing of aircraft, helicopters and engines. He lectures at the Master of Laws (LL.M.) in Air and Space Law program of the University of Mississippi (Ole Miss), School of Law. He is the professor for the full Spring Semester module International Aviation Financing and Leasing Laws. Worldwide, this academic and practical course is the only one of its kind. Also teaching mobile equipment financing law at the Law Faculties of Utrecht University and Groningen University, the Netherlands. Previously, for ten years responsible for the courses transnational aviation financing law at the International Institute of Air and Space Law, Leiden University and corporate/commercial law at the University of Aruba. Honnebier participated in the Diplomatic Conference for the realization of the Convention on International Interest in Mobile Equipment and the Aircraft Equipment Protocol in Cape Town, South Africa (2001). He was the expert legal counsel of the Governments of Aruba and the former Netherlands Antilles and the Dutch Ministry of Foreign Affairs concerning the adoption by the Kingdom of the Netherlands of the Cape Town Convention on 1 September, 2010. He is the author of numerous articles which are published in all the leading air law journals. Editor of Journaal

Luchtrecht/Netherlands Journal of Air Law. Frequently and worldwide Honnebier is a speaker at international aviation finance and lease conferences.

Ben Jacques, Marketing Director, WNG Capital

Ben is the Marketing Director for WiNG Capital, a 50+ aircraft Lessor. In the role since 2014, Ben has a strong track record in aircraft asset management and aircraft marketing having been Commercial Manager at aviation consultancy IBA Group since 2010. Prior to this, Ben was a Leasing Specialist at Air Partner in the UK, before being promoted to Group Quality Manager for their 20+ worldwide offices. Ben is also a qualified aircraft dispatcher and load controller having started his career with BMI at London Gatwick in 2000.

Yves Lavigne, President, World Assets Transition (WAT)

Yves is the founder of World Assets Transition (WAT). In 2000, he started his career with Swissair and Swiss where he served as Freighter Manager and Director of Fleet Remarketing where he focused on Aircraft wet lease and capacity management and on Aircraft Lease Agreement & Remarketing Activities. In 2004, he joined the Aga Khan Fund for Economic Development as consultant where he was in charge the Aviation Affairs of the West African Airlines and part of the startup management team of a national carrier.

In the meantime, he set up a REGIO LEASE where he developed innovative solutions regarding Aircraft Registrations, Export and Recovery along with some Repossession Projects Management requiring tailored made solutions.

In 2012, Yves joined World Assets Transition (WAT). Yves is focused on bringing experience to innovative projects in emerging markets and he enjoys providing turnkey solutions related to assets transition. He also provided strategic advisory regarding implementation of companies and aviation solutions in areas of conflict.

Yves holds a Master Degree in Air Law and Air Transport Economics and is involved in master program where he provides lectures regarding Airline Start Up and Air Transport Regulations.

David Louzado, Principal Consultant, ICF International

David Louzado, Principal, specializes in aircraft advisory, asset management and technical services. Mr. Louzado has thirty years’ experience in the aviation industry, has deep aircraft asset management, transaction, engineering, maintenance and technical services experience - as airline, lessee, lessor, and advisor. Prior to joining ICF Mr. Louzado held positions of Chief Technical Officer at Nordic

Aviation Capital, Sales Director of Risk and Asset Management at Airclaims, Vice President Technical Operations at Falko/BAE, and senior engineering positions at Thomsonfly, Britannia Airways and easyJet. Mr. Louzado holds an aircraft maintenance license issued by the European

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Aviation Safety Agency (EASA) and is based in London, reachable at david.louzado@icfi.com or +44 20 3096 4961.

Roland McKay, Principal, kayway.aero

Roland McKay graduated from the Commercial College and then went on to study at the Lufthansa Technical School and is since 1975 a licensed aircraft maintenance engineer. He worked in Airline Line and Base Maintenance. After his service in the Naval Aviation he studied Business Economics. Mr. McKay holds a valid EASA & FAA pilot license and is certified in diverse Aeronautical

Technologies. He joined Airbus Industrie ensuring worldwide, on-time availability of Spare Parts and Ground Support Equipment (GSE). In 1985 Mr. McKay took the position of Finance Controller at Airbus supporting the fulfillment of Airbus spare part sales contracts in Africa, Middle East and the Far East. Leaving the aviation industry Mr. McKay took responsibility as a Managing Partner of a management consulting firm looking after the group’s subsidiaries. Afterwards he returned to the Aviation field and was the Accountable Manager for a Continuing Airworthiness Management Organization, respectively is Managing Director of an Aviation Technical Consulting Services based in Switzerland. Furthermore is Mr. McKay a member of a German Airforce and the SwissAir Flying Club, the EBAA and an Aircraft Appraiser Association.

Alison McKenzie, Partner, Kennedys

Alison initially specialised in transport law, focusing on insurance litigation/arbitration and liability work in the areas of maritime, aviation and road transport, both in Australia and the UK. Alison gained extensive airline in-house experience working as a senior lawyer in the Legal Department at Qantas Airways Limited in Australia between 2002-2009, as well as on secondment to the in-house legal teams of Emirates in Dubai, UAE and easyJet at Hangar 89, London Luton Airport. Alison’s in-house experience primarily focused on the areas of litigation, anti-discrimination, employment, aviation security, disaster management and regulatory issues.

Alison’s current practice focuses on advising commercial airlines as well as executive jet businesses in relation to their consumer, regulatory and litigation/arbitration requirements. Alison has

considerable experience in advising on and managing large scale commercial litigation for a variety of clients and transport sectors, including disputes in respect of aircraft sale and purchase and

repossession. Alison also has both in-house and external counsel experience of presenting to, negotiating and liaising with local and foreign governments in relation to proposed and current legislative rulings and requirements applicable to commercial airlines and the business aviation industry.

Richard Mumford, Partner and Head of Aviation, Stevens & Bolton

Richard is a UK qualified lawyer and specialises in litigation in the aviation sector. Richard acts for a range of airlines, lessors, parts companies, brokers and other aviation businesses across the globe. The practice is largely focussed on the aircraft and engine trading and leasing markets. Richard trained at Cameron McKenna in the city but has developed an aviation practice outside of London built on a strong reputation for client service. Richard has long experience of aircraft and engine repossession, together with handling difficult lease returns and other similar disputes. With a background in cross-border fraud and asset recovery, Richard sets careful strategies to help clients achieve their

commercial objectives. Richard is a member of the Governing Council of the Baltic Air Charter Association and actively promotes good market conduct aimed at reducing corruption and poor practice in the aircraft leasing and charter markets.

Claire Sandbrook, CEO, Shergroup

Claire Sandbrook is a practising UK attorney of 26 years. She has been involved with the enforcement of court judgments all her working life which extends to 35 years in and around enforcement professionals.

She began work for Burchell & Ruston (the 6th oldest recorded law firm in London) in 1980 and progressed to partner by 1989 having completed her professional training with the support of her mentor, Alastair Black, CBE, DL who was the Under Sheriff of London.

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Under his wing, she learnt the strategies and procedures which have made her corporate group one of the leading enforcement teams in the UK.

On Alastair's desk was a model aircraft which he had seized in 1977 and which had belonged to East African Airways. He was the first person in the UK to seize a commercial aircraft to compel payment of an order of the High Court in London.

Building on all this experience, and turning the law firm into a corporate brand, Shergroup, Claire has built up a formidable reputation as an authorised High Court Enforcement Officer, who will impound and then leverage payment from a variety of assets

She has written two volumes of Halsbury's Laws of England along with six other leading texts on the subject of enforcement and debt recovery and lectures and speaks about her experiences to instill confidence in people using the UK courts to enforce their judgments.

She is now building the Shergroup brand in the US and further afield in its related security division. Through Shergroup's sponsorship of Aeropodium she hopes to inform audiences and members about the strength of the UK enforcement system and share experiences of judgment debt enforcement in other parts of the world.

Ken Sewell, Head of Aircraft Transactions, IBA

With over thirty years as an Aviation Professional, Ken has held a variety of technical, managerial and commercial positions.

He started his career with British Airways as an Avionics technician and became manager of the component overhaul workshops, materials management and supply chain operations. In 2006 he joined their aircraft trading team, initially as a technical programme manager for all of their leased and sale aircraft activity and subsequently the commercial responsibility as an Aircraft Trading Manager.

In 2006 he joined the Allco Finance Group as their Marketing and Portfolio Manager with the asset management responsibility for over sixty aircraft. Primarily involved in ensuring that the assets were fully deployed and compliant with lease obligations, Ken was also involved in the evaluation of cargo conversion projects and in taking delivery of new aircraft from Airbus.

Subsequently Ken formed his own asset management business and has been the Chief technical Officer for Lloyds Banking group’s aircraft division and represented MK Aviation in London as their VP Marketing.

Ken joined the IBA Group in November 2013 as Head of Aircraft Transactions and has the responsibility for aircraft remarketing and associated transaction management.

Robert-Jan Temmink, Barrister, Arbitrator and Mediator, Quadrant Chambers

Robert is ranked as a leading barrister in the current editions of Chambers UK and The Legal 500. The most recent directory described him as “an impressive senior junior.. sources particularly praise him for his assured advocacy and strong courtroom presence. He has a very nice presentational style and judges listen to him. He is very tidy on the paperwork, very inclusive, and has a very modern way of working”. He works from Quadrant Chambers in London.

He has a commercial practice encompassing Chambers' core areas of aviation, shipping and energy together with insurance law, insolvency and fraud. Many of Robert's cases involve cross-border, or other jurisdictional issues both in the UK and abroad and he most regularly appears in the

Commercial, Chancery and Technology & Construction courts in the United Kingdom. He is also registered to practice at the Dubai International Financial Centre Court where he has frequently appeared and is called to the Bar in Northern Ireland and as a Foreign Legal Consultant in the State of New York. He is often asked to work on cases in the Caribbean arising out of contractual or

commercial chancery disputes.

Robert is a Fellow of the Chartered Institute of Arbitrators and is one of the arbitrators at the Dubai International Arbitration Centre. He is also a panel arbitrator at the Kuala Lumpur International Arbitration Centre and the Hong Kong International Arbitration Centre. He has appeared in a wide variety of arbitral proceedings under different institutions' rules, and as sole arbitrator in ICC proceedings. Robert is an accredited commercial mediator in the UK and abroad and is a TECBAR-accredited adjudicator, arbitrator and mediator.

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SPONSORS

Drawing on its extensive experience in both the aviation and IT industries, Communications Software (Airline Systems) Ltd (‘Commsoft’) supports aircraft maintenance organisations with high quality, affordable MRO IT systems which increase efficiency and reduce costs in many key areas. The company’s flagship product is the Open Aviation Strategic Engineering System (OASES). Utilising the latest technologies and an industry-leading database, OASES can be deployed easily and efficiently in any maintenance environment.

Headquartered in Tiptree, Essex, Commsoft has regional offices in Derby and Norwich and another close to Gatwick Airport as well as an office in Australia and support partners in India and Singapore. OASES

OASES is a market-leading product which is used by over 50 airlines and maintenance organisations internationally, supporting over 80 aviation operations. An easy to use, functionally sophisticated system, OASES has been proven worldwide in a variety of live maintenance environments, from large LINUX systems to PC networks, and has formed the basis for maintenance and inventory processes that have received FAA, EASA and other local airworthiness authority approvals.

OASES has been designed in a modular fashion meaning that whilst any module can be used on a standalone basis, they can all talk to each other where necessary and form an integrated solution when used together. This integration means that data is only entered once and is made available to the other modules as necessary throughout the system. Individual modules can be implemented over project timescales, gradually adding functionality from each additional module to the whole project solution. This process gradually leads the client to a fully integrated OASES system and therefore a powerful, value-generating solution.

The flexibility of OASES means that Commsoft can offer excellent support to all organisations large or small, demonstrated by the fact that current customer fleets range from one to over fifty aircraft of all types.

In order to drive the development of the OASES programme, an OASES User Group meeting is held each year at which customer priorities are reviewed and discussed and representatives from our growing international client base are encouraged to offer feedback.

Commsoft services

Implementation: Commsoft believes that the key to any system is a professionally planned implementation that engages all key stakeholders, including local users.

Training: Flexibility is at the heart of Commsoft’s training ethos. All organisations have differing needs, so Commsoft works to adapt to the client’s particular learning requirements. In addition to formal training, there is an extensive on-line library of help-text available to all users via a single click of the mouse.

Support: Support and maintenance packages can be tailored to individual client requirements including provision of 24/7 assistance. As standard, Commsoft support packages include dedicated Help Desk support, remote analysis and fault finding, and a system modification release service.

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We have extensive knowledge and experience in the field of aircraft management, leasing,

maintenance, conversion and assessments. Our team can take on your aviation challenges and come up with innovative solutions outside the industry norm.

• Aircraft Brokerage – Sourcing, Sales & Leasing

• CAM (Continuing Airworthiness Management)

• ARC Signatory (Airworthiness Review Certificate)

• Pre-purchase inspections

• End of Lease Inspections

• Record keeping

• Market research / Data forecasts

• Ferry Flights

• Part 21 J Design – Avionics & Interiors

• Aircraft Interior Design / Refurbishment

For over 200 years, both business leaders and the UK’s High Court based out of London have chosen us to secure their most valuable assets – their people and their property, making Shergroup one of the most reputable and, as a result, trusted names in business in the U.K.

As the company built this stellar reputation, we found ourselves needing to expand our own business capabilities. At every turn in this growth process, we asked ourselves “can we do this better?” And in the areas of security, outsourcing, legal services and revenue management, we were able to answer with a resounding “yes.” So we broadened our scope of services and our reach into the global market. Opening business development offices in the U.S. and increasing our back office personnel team to include staff in the U.S. and India, we have expanded our service offerings by adding security divisions in the UK and US, risk assessment services, consultative legal services, security education, comprehensive security technology offerings, and other back-office support services from call centers to web development. But we keep ourselves tightly in check, expanding only into areas that don’t stray too far from our core. And with every new service offering we add, we are bullish about maintaining the same quality standards established from our legal heritage as lawyers in London dating back to 1780.

We operate in various global destinations as we look for universal services to continue the growth in our group structure. An outline of our core solutions includes

Enforcement

At the core of our business is an age old process, one of recovering property and debt for the benefit of a successful plaintiff. Although enforcement practices can vary widely across the globe we have identified that between countries there are similarities, reciprocal arrangements, and cross border treaties making it easier than ever to collect international debt and recover property, including aircraft. Using knowledge gained from our official role as High Court Enforcement Officers appointed by the Lord Chancellor of England and Wales we can offer|

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A comprehensive assessment of how to enforce a court judgment and the best way forward based on all the enforcement options allowed by law both in the UK and further afield

A subsequent plan of action to provide steps towards securing payment using aircraft or related assets as leverage for a successful outcome

Using the power of the UK’s Civil Aviation Authority and UK Border Agency to identify aircraft and control the situation of an aircraft on the ground at any airport within England and Wales

Prepare and advance hearings before the High Court to protect assets which have been formally seized and arrange for adequate insurance, parking, and maintenance pending either payment or sale

In all cases, we will create a customized strategy which is right for the enforcement of the court’s order.

Legal

Shergroup provides legal services connected solely for the purpose of enforcing judgments and orders. Internationally, our legal services tap into our network of like-minded lawyers across the world determined to deliver justice – and get results.

In relation to the seizure of aircraft we are able to use our legal prowess to obtain practical orders from the High Court which underline to the parties the need to comply with UK enforcement law often within hours or day of seeking interlocutory decisions.

Security and Security Technology

Shergroup’s security forces are experienced in securing events and providing traditional security services of personnel, land and asset protection to some of the U.K.’s most valuable landmarks—the Houses of Parliament and St. Paul’s Cathedral, municipal buildings and private enterprises. As the company has expanded its offerings globally, they have set a standard of practice that meets or exceeds many disparate private security requirements across the world, ensuring the security offerings of the company are consistently outstanding.

In the area of Security technology, Shergroup is identifying products that better manage risk and overcome threats. Our security technology experts are spearheading the development of the Shergroup product line which includes advanced and intelligent video technologies, access and key control offerings, guard gear and protective equipment, bio and other technologies used in weapons and threat detection.

Outsourcing

The Shergroup team has expanded, and is continually growing, our outsourcing capabilities to meet quality, security and environmental standards globally. From IT services to call-centers and beyond, we combine your unique insight into your business with our expertise and technology to deliver greater service efficiency; create quality enhancements and increase your customers’ satisfaction. We committed to providing services that yield measurable, and cost-effective, improvements in your business practices.

History and future vision

Shergroup’s business dates back to 1780 when Joseph Burchell, an Under Sheriff in the UK began a law practice focused on enforcement. The practice was modernized in 2004 to coincide with a change in enforcement practices in England and Wales and subsequently, Shergroup Limited was formed. CEO Claire Sandbrook is a lawyer of over 20 years, and author of many books on enforcing judgments, and the first ever woman Under Sheriff of a county, being Surrey, holding the position for seven years until 2005. It is Sandbrook’s expansive vision that is building Shergroup into a global solutions brand.

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