Private Law Research

An Analysis of Subordinate Real Rights in Aircraft Financing A Comparative Study of the Geneva and Cape Town Conventions in Light of Iranian Law and Imamiyyah Jurisprudence

Articles in Press

Document Type : Research Paper

Authors

Pouriya Khoshabi 1
Majidreza Arabahmadi 2
hamidreza alikarami 3

1 Ph.D. Student, Private Law Department, Ar.c, Islamic Azad Universityِ, arak, Iran

2 Assistant Professor, Private Law Department.Far.C.Islamic Azad university.Farahan.Iran

3 Assistant Professor, Private Law Department. Ar.c, Islamic Azad Universityِ, arak, Iran

https://doi.org/10.22054/jplr.2026.88996.2971
Abstract
The efficacy of global aviation financing hinges on modern collateral mechanisms—particularly the accessory real right—and robust risk-mitigation frameworks. Iran’s legal system, anchored in classical doctrines, impedes such efficiency. Modernizing the national aircraft fleet demands significant capital, which remains inaccessible without structural legal reform. This study employs a descriptive-analytical and comparative methodology to assess the compatibility of the accessory real right, as defined under the Geneva Convention (1948) and the Cape Town Convention (2001), with Imamiyyah jurisprudence and Iran’s domestic legal order. It specifically asks whether this international security interest can be effectively integrated into Iran’s legal framework. Findings indicate that Imamiyyah jurisprudence possesses sufficient doctrinal flexibility to accommodate such modern proprietary instruments. However, critical obstacles—including an inadequate registry infrastructure, overlapping enforcement authorities, and institutional limitations—prevent Iran’s effective accession to the Cape Town Convention. Consequently, non-accession results in higher financing costs and reduced investor confidence. To address this, the study proposes a model of gradual legal harmonization, leveraging existing legislative capacities, implementing targeted executive measures, and grounding reforms in established jurisprudential and doctrinal principles to render domestic law operationally compatible with international aviation financing standards.

Keywords

Real Right
Subordinate
Aircraft
Convention
Cape Town Treaty
Subjects
Private Law Research

Articles in Press, Accepted Manuscript
Available Online from 22 April 2026

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