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US Covered Bonds – Senate Introduces Legislation to Encourage Market Development
15 November 2011
Publication
On November 9, 2011, Senator Kay Hagan (D-NC) and Senator Bob Corker (R-TN) and co-sponsors Chuck Schumer (D-NY) and Mike Crapo (R-ID) introduced the "The United States Covered Bond Act" to the United States Senate. The bi-partisan Senate bill is intended...
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Structured debt & securitisation
Clifford Chance’s International Structured Debt Group is recognised as the pre-eminent global securitisation and structured debt practice with market leading teams in the United Kingdom, Europe, Asia and the United States.
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Separation of JBIC from JFC under new JBIC Law offers more effective support to Japanese corporations for overseas investment [Japanese version]
21 September 2011
Publication
Japan Bank of International Cooperation (JBIC) was formally a government-affiliated bank incorporated and registered pursuant to the Japan Bank for International Cooperation Law. Beginning 1 October 2008, it is currently the international finance sector of Japan...
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Separation of JBIC from JFC under new JBIC Law offers more effective support to Japanese corporations for overseas investment
21 September 2011
Publication
Japan Bank of International Cooperation (JBIC) was formally a government-affiliated bank incorporated and registered pursuant to the Japan Bank for International Cooperation Law. Beginning 1 October 2008, it is currently the international finance sector of Japan...
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Perpetual litigation comes to an end
27 July 2011
Publication
On 27 July, the Supreme Court handed down its long awaited judgment in the case Belmont Park Investments PTY Limited -v- BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc (LBSF). Although there were no surprises – the decision...
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The Kaupthing Case – Playing by the Rules: A Supreme Court win for Bondholders in Icelandic Bank administrations
24 October 2011
Publication
On 19 October the Supreme Court handed down its judgment in the case of Re Kaupthing Singer and Friedlander Limited (in administration)[2011] UKSC 48. The appeal was concerned with a long standing principle of insolvency law known as the rule against double proof...
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SPV comparison - choosing between a Dutch, an Irish and a Luxembourg SPV
14 October 2011
Publication
The Netherlands, Ireland and Luxembourg are very popular onshore jurisdictions for the establishment of SPVs (special purpose vehicles) for structured finance transactions. As the markets have become more innovative and efficient in recent years, each jurisdiction...
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Portfolio disposals - issues and opportunities
14 June 2011
Publication
The number of portfolios – both equity and debt – being sold is gathering pace,
thanks to a combination of commercial and legislative pressures. However, as
journalist Guy Ashworth hears from Clifford Chance experts, there are plenty of
potential...
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New Landscapes: Practical evaluations of new regulations impacting structured debt transactions
10 June 2011
Publication
Market professionals consider that securitisation issuance in Europe in calendar year 2011 is likely to reach €100-€150 billion (excluding central bank liquidity trades). This is up from approximately €90 billion in 2010 and underlines a recovery...
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Eurosail Appeal - more navigating troubled financial waters
11 March 2011
Publication
Following our client briefing of earlier this week on the Eurosail appeal case we now attach a further article which explores in more detail the reasoning behind the Court of Appeal decision and its implications for the asset-backed market and a wider range of...