<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>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.</p>
</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.

Legal and Economic Aspects of Debt Securitisation with Involvement of Special Purpose Corporation<sup><xref ref-type="fn" rid="j_wrlae-2020-0001_fn_001">1</xref></sup>

Assistant Professor in the Department of Civil Law and International Private Law at the Institute of Civil Sciences, Faculty of Law, Administration and Economics

Wroclaw Review of Law, Administration & Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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

Securitisation is an asset management method aimed at issuing securities based on a separate set of claims. With this method, private entities and public...

Legal and Economic Aspects of Debt Securitisation with Involvement of Special Purpose Corporation¹

Data publikacji: 19 cze 2021

Zakres stron: 1 - 16

DOI: https://doi.org/10.2478/wrlae-2020-0001

Słowa kluczowe
Debt securitisation, a special purpose corporation, a special purpose vehicle, special purpose company, securitisation fund, assignment of receivables, sub-participation contract, securities, bonds

© 2020 Wojciech Szydło, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Legal and Economic Aspects of Debt Securitisation with Involvement of Special Purpose Corporation1

Data publikacji: 19 cze 2021

Zakres stron: 1 - 16

DOI: https://doi.org/10.2478/wrlae-2020-0001

Słowa kluczoweDebt securitisation, a special purpose corporation, a special purpose vehicle, special purpose company, securitisation fund, assignment of receivables, sub-participation contract, securities, bonds

© 2020 Wojciech Szydło, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Legal and Economic Aspects of Debt Securitisation with Involvement of Special Purpose Corporation¹

Słowa kluczowe
Debt securitisation, a special purpose corporation, a special purpose vehicle, special purpose company, securitisation fund, assignment of receivables, sub-participation contract, securities, bonds