The Convention for the International Recognition of Rights over Aircraft's, approved in Geneva in 1948, was formally ratified trough Law No. 23 of April 27, 1998 issued by the Republic of Panama.
This International Convention covers several principal matters:
Particularly, the Convention states that the procedure for the judicial sale of an aircraft shall be determined by the laws of the State where the sale is taking place, but it sets forth important rules for claimants and creditors.
Dr. Juan Francisco Pardini
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