The term is defined as being a
‘right or interest conferred under the law of a
Contracting State … to secure the performance
of an obligation …’. The Official Commentary
points out that the terms ‘right’ and ‘interest’ are
not defined in the Convention, and ‘in general
an interest denotes a right in rem in an asset
whilst a right is a personal right of possession
or control of …an asset in which the holder [of
the right] has no interest (as in the case of a right
of detention of an aircraft for airport dues…)’,7
and further notes that it is ‘a right or interest
created by law, not by agreement’.