The first text of its kind, essential for professionals in the structured finance market. At the heart of many structured finance transactions is some form of transfer of assets - usually a sale. This book seeks to analyse an area of law that is of great practical importance but which has been largely left untouched by academics and market commentators. This book raises issues of general law in True Sale, applicable to many circumstances, as well as complex issues relating to insolvency and practical enforcement. The issue of true sale is one of immense importance in the finance markets, where billions of pounds are invested based on a given treatment of a transaction. At the heart of many structured finance transactions is some form of transfer of assets - usually a sale. Practitioners seek to ensure the robustness of this transfer because of concerns that courts might treat a transaction as a disguised loan or might unwind the transfer on the later insolvency of the transferor. Securitisation is the biggest market where this is a crucial issue; other structured finance transactions where assets are transferred to a special purpose company or are sent off balance sheet also use a true sale. This book raises issues of general law, applicable to many circumstances, as well as complex issues relating to insolvency and practical enforcement.
Table of Contents
Part 1 - General principles - Introduction and history; Areas of application; Principles; Treatment on insolvency; Cross border transactions; Cross border insolvency; Legal v accounting treatment; Part 2 - Specific contracts - Securitisation; Receivables purchase; Sales of goods; Sales and leasebacks; Derivatives
Original UK Price: £250
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