Archives: Defaults and Restructurings

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Practical implications of insolvent originators

Just a few blissful years ago, one would never think of originators getting wound up or sellers being liquidated. In the world of structured finance, the possibilities of that doomsday scenario were remote, unthinkable and above all, no one wanted to discuss its potential occurrence. That changed with the Lehman collapse and with that, a … Continue Reading

Winding up securitisation issuers: who pays?

Following the boom years of securitisation origination and the well documented post-Lehman troubles securitisation transactions are now coming to the end of their life cycles as assets default, are re-financed or bought back by originators. However, there are typically numerous legal and accounting costs – and possibly taxes – associated with unwinding a securitisation such … Continue Reading
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