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Financing railway equipment
The Luxembourg Rail
ProtocolA world-wide legal framework
to recognise and regulate security interests -
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RWG Membership
BECOME A MEMBER
Membership is open to all stakeholders in the rail industry
who support the RWG’s objectives and accept its principles. -
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Newsletter
Inside Track
“Inside Track” is the e-newsletter
published by the Rail Working Group
The Rail Working Group
The 2001 Cape Town Convention on international interests in mobile equipment
The Rail Working Group (RWG) is a not-for-profit group established at the request of UNIDROIT (the International Institute for the Unification of Private Law) to represent the position of the rail industry relating to adoption and implementation of the 2007 Luxembourg Protocol to the Cape Town Convention on International Interests in Mobile Equipment on matters relating to railway rolling stock (the Luxembourg Rail Protocol).
The Luxembourg Rail Protocol
RWG emerging opportunities
The Luxembourg Rail Protocol – Moving Africa Forward
The Luxembourg Rail Protocol
Current News
UNIDROIT has just published the third edition of the Official Commentary on the Luxembourg Rail Protocol by Professor Sir Roy Goode CBE; KC
5. November 2024
UNIDROIT has just published the third edition of the Official Commentary on the Luxembourg Rail Protocol by Professor Sir Roy Goode CBE; KC. This is a major upgrade on the second edition taking into account, for the first time, the entry into force of the Protocol and the various legal instrument surrounding its implementation, including […]
Urgent need for investment in Sicily’s rail infrastructure
31. October 2024
Directly from Sicily, our chairman Howard Rosen CBE addresses the urgent need for investment in Sicily’s rail infrastructure, from the high-speed line to the essential connection across the Strait of Messina. How could the Luxembourg Rail Protocol help? To see the video click here.
Key Talking Points
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The Protocol creates a new global legal system for the recognition and prioritisation of security interests held by creditors in railway equipment. These interests will be registered in a new international registry, which is searchable by the public 24/7. This makes it possible, for the first time, for all interested parties to easily learn of a creditor’s security interest, and for that creditor to be able to enforce its security in cases of debtor default or insolvency.
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Our key task is to press for the implementation of the Luxembourg Rail Protocol in as many countries as quickly as possible but ensuring that the operation of the Protocol does not lose touch with the commercial realities of the rail industry.
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The Protocol will introduce a new unique identification system for railway equipment. It applies to all equipment running above, on, or under a permanent guide-way; from high-speed to light rail trains, from freight locomotives and wagons to trams and subways, and from people movers at airports to gantries and cranes running on rails at ports.
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The Protocol covers all debtors located in a ratifying state, for example in a financial centre, regardless of the location of the railway equipment. It covers the financing of railway equipment through leases, secured credit agreements and conditional sale contracts.
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By securing the creditor, the Protocol will draw in much more, and cheaper, finance from the private sector for railway equipment. This will lead to a more competitive and dynamic rail sector, plus more investment in the industry.
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The Protocol should relieve governments, as well as state- and privately owned operators, of the need to allocate precious capital to rolling stock. This is particularly important for developing countries where an extensive and well-functioning rail sector is critical for economic growth.
The RWG
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The Protocol should relieve governments, as well as state- and privately owned operators, of the need to allocate precious capital to rolling stock. This is particularly important for developing countries where an extensive and well-functioning rail sector is critical for economic growth.
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Participates in seminars and generally promotes the signature and ratification of the Luxembourg Rail Protocol
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Issues publications and position papers relating to the Protocol
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Acts as a forum for consideration of the practical aspects of the operation of the Luxembourg Rail Protocol by the rail industry
Events & Meetings
- 20.11-21.11.2024 Saudi Rail and Mobility LIVE KSA 2024
Speaker Panel
The membership of the RWG encompasses vast range of experience on rail and finance matters. Many of us are happy to speak at rail conferences and the RWG has established a panel of experts for this purpose. Conference organisers may contact them directly.
News
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UNIDROIT has just published the third edition of the Official Commentary on the Luxembourg Rail Protocol by Professor Sir Roy Goode CBE; KC
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Urgent need for investment in Sicily’s rail infrastructure
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Luxembourg Rail Protocol included in new UK Draft Rail Reform Bill
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The Luxembourg Rail Protocol enters into force
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12th final session of the Preparatory Commission for the establishment of the International Registry for Railway Rolling Stock
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Stadler joins the Rail Working Group