Electronic Proceedings - United Nations Office for Outer Space Affairs

3. Grant and Perfection of Security InterestsBackgroundthe International Institute for the Unification of Private Law (Unidroit) has developedinternational uniform rules to address the recognition of foreign security interests inmobile equipment across international frontiers. The Unidroit Convention on InternationalInterests in Mobile Equipment was adopted in November, 2001 in Cape Townrecognizing that the special legal problem of addressing competing claims in differentjurisdictions where earth-bound mobile goods could be located is different for space-basedequipment, a preliminary draft Protocol to the Convention on Matters Specific to SpaceAssets has been prepared by the Space Working Group, established by Unidroit the Space Protocol was presented to the Unidroit Governing Council in September 2001,reviewed by the Unidroit Steering and Revisions Committee in February 2002 and madeavailable for transmission to governments with a view to convening a Unidroit Committeeof governmental expertsIssuesthe lack of willingness of many financial institutions and satellite operators to take a longtermview of the efforts of the Space Working Group has delayed progress356Milbank