It is not uncommon to have a foreign law (for example English law or New York law) governed aircraft mortgage over a Cayman registered aircraft, and Cayman Islands law would, generally speaking, recognise the validity of such a security interest from a Cayman Islands law perspective (assuming it creates a valid security interest as a matter of that foreign law). Whether the aircraft mortgage is foreign or Cayman Islands law governed, it will usually provide the lender with an express power of sale.