If eligible, an order for provisional attachment can be obtained in a matter of days. Provisional injunction may also be available to a mortgagee to force the mortgagor to take or avoid certain actions with respect to the aircraft. To be eligible for provisional injunction, the mortgagee must post a bond in an amount set by the court and meet certain technical statutory requirements. If provisional relief is granted by an ROC court, the mortgagee will be required, within a specified time period, to file its claim in an ROC court if the mortgagee has not previously done so. As an alternative to obtaining a court order, the mortgagee may take action directly to preserve the value of the aircraft without prior court approval.
Necessary costs relating thereto are to be borne by the mortgagor.
Lessors attempting to regain possession after a default must first obtain a court judgement. The time required to obtain a court judgement may be one year or longer. Once a judgement is obtained, repossession of the aircraft may take an additional one to two months. Prior to obtaining a final court judgement, the lessor may apply to the court for an order of provisional attachment or provisional injunction. A lessor bond must be posted in either case.