Rules of the Cape Town Convention on International Interests in Mobile Equipment and Fundamental Principles of Private Law: pro et contra .

Registration of an international interest under the rules of the Cape Town Convention is aimed at establishing priority for such an interest in relation to all third parties, but it does not constitute the basis for the occurrence of the corresponding security obligation. The purpose of registering an international interest is to notify third parties of title or encumbrance. The debtor is a party to the relevant security agreement. If the creditor does not register his security interest (guarantee), the debtor cannot deny its existence or act without taking into account the creditor’s rights under such a guarantee. Competition on the priority of security rights in relation to the same property cannot arise between the debtor and the creditor. The debtor cannot deny that the creditor has rights under the security agreement. The study states that the rules of the Cape Town Convention on priorities are not subject to unconditional application. When considering a dispute over security rights to property, the court should be guided not only by the provisions of the Cape Town Convention on Priorities, but also by the fundamental principles and norms of national law (applicable law). Fundamental principles of civil law cannot be abrogated by Cape Town Convention rules.