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Global Jurist

Ed. by Mattei, Ugo / Monti, Alberto

CiteScore 2016: 0.07

SCImago Journal Rank (SJR) 2016: 0.148
Source Normalized Impact per Paper (SNIP) 2016: 0.008

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Volume 3, Issue 3


Volume 19 (2019)

International Securitization: A Guide to Cross-Border Receivables Financing

Parikshit Dasgupta
Published Online: 2003-10-31 | DOI: https://doi.org/10.2202/1535-167X.1102

Securitization separates the receivables and liabilities of the company by transferring the receivables to a special purpose vehicle (SPV), and enables the SPV to issue securities to generate funds at a lower cost from the capital market. To access established capital markets and target better sources for finance, the SPV may be established in a foreign country and securities would be issued in capital markets of that country.I submit that the structuring an international securitization basically revolves around two issues, firstly determining the jurisdictions in which the cross-border securitization would operate and secondly, ascertaining the applicable law and structuring the securitization in consonance with the applicable law. While studying these two issues, I deduce that international securitization is regulated by private law making system i.e. the contract system, and the various processes of securitization are also subject to the municipal laws of the country where the processes occur.In conclusion, I put forth that international securitization law is essentially formulated by lawyers. I also argue that international securitization can be efficiently structured by lawyers, by making the appropriate inquiries to the local counsel for analyzing the municipal law implications.

Keywords: International law; Receivables; Securitization; Special purpose vehicle; UNCITRAL; Asset management

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Published Online: 2003-10-31

Citation Information: Global Jurist Topics, Volume 3, Issue 3, ISSN (Online) 1535-167X, DOI: https://doi.org/10.2202/1535-167X.1102.

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