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Title:

Legal and Economic Aspects of Debt Securitisation with Involvement of Special Purpose Corporation

Subject and Keywords:

debt securitisation   special purpose corporation   special purpose vehicle   special purpose company   securitisation fund   assignment of receivables   sub-participation contract   securities   bonds

Abstract:

Securitisation is an asset management method aimed at issuing securities based on a separate set of claims. With this method, private entities and public entities delivering public tasks can have access to investment financing or operational financial through the capital market, bypassing a credit risk. It is achieved by bringing to a swap of a package of claims due to the entity with cash raised through issuing securities (e.g., bonds) backed by the debt obligations (claims). The paper presents legal and economic rules for organising the debt securitisation process involving a special purpose commercial law company set up to issue securities, which, next to securitisation through a securitisation fund, is one of the two types of securitisation of claims governed by Polish law. This paper was written within the research project financed by the National Science Centre No. DEC-2013/08/A/HS5/00642.

Date issued:

2020

Resource Type:

text

Detailed Type:

article

Identifier:

eISSN 2084-1264

DOI:

10.2478/wrlae-2020-0001

Language:

eng

Abstract Language :

eng

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Access rights:

Attribution, Non-Commercial

License:

Creative Commons - Attribution (CC BY 4.0)

Rights holder:

Copyright by Wroclaw Review of Law, Administration & Economics, published by Sciendo

Autor opisu:

WR U/PAdbg