- Ms Rachel Huang, Partner, Ogier Global
- Ms Cheryl Heslop, Associate Director, Debt Capital Markets, Ogier Global
- Ms Wei-Hsin Tsai, Associate Director, Debt Capital Markets, Ogier Global
- Mr Eric Chan FCG HKFCG(PE), Chief Consultant, Reachtop Consulting Limited (Chair)
An orphan structure is often used in a structured finance transaction where a special purpose vehicle ("SPV") is created for securitisation transaction. In such a structure, the essence is to have the SPV unconnected to any of the transactional parties hence achieving the off-balance sheet treatment and bankruptcy remoteness. This webinar will look at the securitisation transaction from the orphaned SPV's perspective, and will take a deeper dive into the creation, maintenance, and the role of such orphaned SPV in a transaction, as well as the regulatory, operational and documentational aspects of an orphan structured financing transaction.
- Introduction of orphan structures
- What is an orphan structure?
- In what jurisdictions are orphan structures used and why?
- Jersey Orphan Structures
- Key features and differences from a Cayman orphan structure
- Regulatory requirement
- Typical usage of Jersey orphan structures
- What's the attraction?
- Reasons for using orphan structures
- Off-balance sheet treatment
- Bankruptcy remoteness
- Asset transfer
- Tax planning/structuring
- Possibility to expand scope of investment
- Use or application of orphan structures
- Typical usage of orphan structures
- Parties involved
- How it works
- Establishment of an orphan structure
- Structured finance transaction using an orphan SPV
- Regulatory requirements for orphan SPVs in Cayman Islands
- AEOI reporting
- AML policy and officers
- Economic substance notification and reporting: classification of orphan SPVs
- Examples of typical use of orphan structures
- Single project investment
- Aircraft financing
- Shipping financing