The Cape Town Convention is designed to protect rights of owners and financiers in movable property, including aircraft and aircraft engines. As a result, lenders, banks, leasing companies and investors would be able to benefit from internationally recognized legal framework and standards for cross-border aircraft leasing and financing transactions. Borrowers and lessees (airlines) potentially should be able to better manage transaction risks, thus reducing costs in respect of Kyrgyz-registered aircraft or aircraft mortgaged by or leased to Kyrgyz entities.
On 6 October and 19 December 2020, Kazakhstan’s President signed Law No. 365-VI ZRK1 and Law No. 384-VI ZRK2 (“Amendments”), respectively, which introduced certain changes to the country’s anti-corruption legislation, including the Anti-Corruption Law,3 Criminal Code4 and Civil Code.5 Law No. 365-VI ZRK became effective on 18 October 2020, and Law No. 384-VI ZRK came into effect on 31 December 2020.