Section 21 Enforcement of Security Interests

• Library: Secured Transactions 2005

As with motor vehicles, the enforcement of liens and security interests in aircraft is left to other state law, particularly Article 9. Aircraft Trading & Servs., Inc. v. Braniff, Inc., 819 F.2d 1227 (2^nd Cir. 1987), cert. denied, 484 U.S. 856 (1987); In re Gary Aircraft Corp., 681 F.2d 365 (5^th Cir. 1982), cert. denied, 462 U.S. 1131 (1983). An exception arises when the rights of the parties may depend on the fact or time of recordation of an instrument, in which case federal law controls. N. Ill. Corp....