Avionics News May 2013 - 76
legislative
B Y
J A S O N
D I C K S T E I N
AEA GENERAL COUNSEL
Forms of Liens Useful
to Repair Stations
Protecting Your Right to Get Paid
A
lien is a tool creditors
use in order to improve
the chances they will get
paid on a debt. Like any
tool, liens are valuable when they
are used correctly; but when used
incorrectly, they may fail to fulfill
their expected function, and, in
some cases, they can actually injure
the person who wields them.
In the next few issues of Avionics
News, we will examine liens and
provide guidance on what Aircraft
Electronics Association members
ought to be thinking about when
considering the use of liens as a
tool for helping to ensure payment.
In this month’s column, we address
basic forms of liens that may be
useful to repair stations and fundamental validity questions. In next
month’s column, we will address
some concerns reflecting the filing
of liens with the Federal Aviation
Administration registry so that the
76
avionics news
•
may
2013
lien may be enforceable against
subsequent aircraft owners. In the
third installment, we will examine
some of the industry’s questions
about what happens if an aircraft
registration expires when there is
a lien against it, or immediately
before a lien can be filed. Finally,
in the fourth installment, we will
examine strategies for enforcing a
lien in order to use the value of the
aircraft to “get paid” when your
customer has failed to pay the outstanding bill for services.
In order to be a useful tool, a lien
should be enforceable. When examining the enforceability of a lien,
it is important the lien be substantively valid (it is a good lien) and
procedurally proper (it was filed
appropriately so that it is enforceable). Repair stations owners who
want to file liens to protect their
financial interests will, therefore,
need to take both elements into con-
sideration when they are considering filing a lien.
Generally, the available forms a
lien may take will be determined
under state law (there are exception for certain type of liens that are
specifically available under federal
law, but they are beyond the scope
of this article). In most cases, there
are going to be two different types
of liens available to a repair station:
liens-by-agreement and liens-by-law.
LIENS-BY-AGREEMENT
One may agree to a lien. Usually,
this requires a written agreement
and related financing statement,
which can be the same document.
In some states, though, the written
agreement may be as simple as a
written memorandum of the work
or material to be furnished that is
signed by the owner, authorized
agent of the owner or person in lawful possession of the aircraft.
Avionics News May 2013
Table of Contents for the Digital Edition of Avionics News May 2013
Point of Communication
AEA now
The View from Washington
International News and Regulatory Updates
Beltway Briefing
Power Redundancy in the Age of Digital Cockpits
Member Profile
Capital Quest
Avionics News Through the Years
Equipping for International Operations
A Conversation With...
Member Profile
What is Australia Waiting For?
AEAviators
Going Global
Business Basics
The History of Avionics
Meet the AEA Board of Directors
A Real-Time Look at Airborne Weather Radar
Aviation Aces
Legal Ease
What's New
Marketplace Classifieds
Avionics News May 2013 - Intro
Avionics News May 2013 - Cover1
Avionics News May 2013 - Cover2
Avionics News May 2013 - 1
Avionics News May 2013 - 2
Avionics News May 2013 - 3
Avionics News May 2013 - Point of Communication
Avionics News May 2013 - 5
Avionics News May 2013 - AEA now
Avionics News May 2013 - 7
Avionics News May 2013 - 8
Avionics News May 2013 - 9
Avionics News May 2013 - 10
Avionics News May 2013 - 11
Avionics News May 2013 - 12
Avionics News May 2013 - 13
Avionics News May 2013 - The View from Washington
Avionics News May 2013 - 15
Avionics News May 2013 - International News and Regulatory Updates
Avionics News May 2013 - 17
Avionics News May 2013 - 18
Avionics News May 2013 - Beltway Briefing
Avionics News May 2013 - Power Redundancy in the Age of Digital Cockpits
Avionics News May 2013 - 21
Avionics News May 2013 - 22
Avionics News May 2013 - 23
Avionics News May 2013 - Member Profile
Avionics News May 2013 - 25
Avionics News May 2013 - 26
Avionics News May 2013 - 27
Avionics News May 2013 - Capital Quest
Avionics News May 2013 - 29
Avionics News May 2013 - 30
Avionics News May 2013 - 31
Avionics News May 2013 - Avionics News Through the Years
Avionics News May 2013 - 33
Avionics News May 2013 - Equipping for International Operations
Avionics News May 2013 - 35
Avionics News May 2013 - 36
Avionics News May 2013 - 37
Avionics News May 2013 - 38
Avionics News May 2013 - 39
Avionics News May 2013 - A Conversation With...
Avionics News May 2013 - 41
Avionics News May 2013 - Member Profile
Avionics News May 2013 - 43
Avionics News May 2013 - 44
Avionics News May 2013 - 45
Avionics News May 2013 - What is Australia Waiting For?
Avionics News May 2013 - 47
Avionics News May 2013 - 48
Avionics News May 2013 - 49
Avionics News May 2013 - AEAviators
Avionics News May 2013 - 51
Avionics News May 2013 - Going Global
Avionics News May 2013 - 53
Avionics News May 2013 - 54
Avionics News May 2013 - 55
Avionics News May 2013 - Business Basics
Avionics News May 2013 - 57
Avionics News May 2013 - 58
Avionics News May 2013 - 59
Avionics News May 2013 - The History of Avionics
Avionics News May 2013 - 61
Avionics News May 2013 - 62
Avionics News May 2013 - 63
Avionics News May 2013 - Meet the AEA Board of Directors
Avionics News May 2013 - 65
Avionics News May 2013 - 66
Avionics News May 2013 - 67
Avionics News May 2013 - A Real-Time Look at Airborne Weather Radar
Avionics News May 2013 - 69
Avionics News May 2013 - 70
Avionics News May 2013 - 71
Avionics News May 2013 - 72
Avionics News May 2013 - 73
Avionics News May 2013 - Aviation Aces
Avionics News May 2013 - 75
Avionics News May 2013 - Legal Ease
Avionics News May 2013 - 77
Avionics News May 2013 - What's New
Avionics News May 2013 - 79
Avionics News May 2013 - 80
Avionics News May 2013 - 81
Avionics News May 2013 - Marketplace Classifieds
Avionics News May 2013 - 83
Avionics News May 2013 - 84
Avionics News May 2013 - Cover3
Avionics News May 2013 - Cover4
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