SPV Definition

Case studies

"LexisLibrary gives us the most relevant and recent cases and always has the latest information on them. It makes research so much easier. We're more cost-effective for our clients and more efficient each day"

Advocates

Access all documents on SPV

GET ACCESS NOW

GLOSSARY

Published by a ��ɫ�� Banking & Finance expert

What does SPV mean?

Special Purpose Vehicle, a company created solely for the purpose of owning an asset or portfolio of assets. The SPV can grant security over its assets to lenders to secure loan obligations or issue debt securities secured on these assets

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

Checklist for compromises of FCA-regulated entities: information requirements

Checklist for compromises of FCA-regulated entities: information requirements Where a scheme of arrangement, restructuring plan, company voluntary arrangement or individual arrangement is proposed over a regulated firm (defined below), the Financial Conduct Authority (FCA) will need to be involved from an early stage. The FCA is the conduct regulator for financial services firms and financial markets in the UK. It has a duty under section 1B of the Financial Services and Markets Act 2000 (FSMA 2000) to pursue certain objectives, one of which is the consumer protection objective. The FCA lists its statutory objectives as to secure an appropriate degree of protection for consumers and to protect and enhance the integrity of UK financial markets, with a view to reducing the number of proposed compromises (through a scheme of arrangement, restructuring plan, company voluntary arrangement or individual arrangement) that they do not consider to be appropriate (see FG22/4, para 1.2). On 5 July 2022, the FCA published guidance on compromises of regulated firms (see FCA Guidance FG22/4 July 2022 and...

Starting a development project—checklist

Starting a development project—checklist This Checklist highlights the information that should be requested from the client before starting a development project, and other steps that will need to be taken to facilitate a successful development project transaction. A development project, for example the construction of an office building with external financing, will involve numerous parties including funders, possibly a separate purchaser, the developer, the tenant and the construction team (which will include contractors, consultants and sub-contractors), see: Structure of a development project—diagram. Numerous documents will therefore need to be drafted, negotiated and completed to govern the relationships between all of these parties (see Practice Note: Development documents—introduction). It is very important therefore that sufficient detail is obtained about the project at the outset and that lawyers with experience in the appropriate areas are involved to avoid errors or gaps in the documentation. This Checklist provides a starting point for a development project when acting for the developer, and is drafted with a construction lawyer in mind but with...

Discover our 5 Checklists on SPV

Equity support in project finance

Equity support in project finance In a typical project finance transaction, the project company (ie the borrower) is a special purpose vehicle (SPV) set up specifically for the purposes of the project. This means that it does not have its own experienced employees and its only assets are the project assets. The sponsor (which is traditionally an entity with more substantial corporate worth and skill) is often required to provide support to the project company to ensure that the project is successful. For more information on sponsors, see Practice Note: Project finance—key project parties—Sponsor. What is equity support in a project finance transaction? Equity support for a project means any form of support provided by the sponsor to the project company. The two main forms of equity support are: • non-financial equity support arising out of the sponsor's experience, knowledge and technical expertise, including by way of: ◦ skilled personnel who are allocated to the project to oversee and manage its design and development ◦ assistance to procure...

Ireland—Section 110 companies—use and associated tax considerations

Ireland—Section 110 companies—use and associated tax considerations Ireland’s Section 110 Regime Ireland has established itself as one of the most attractive jurisdictions for structured finance transactions due, in large part, to the framework established by s 110 (Section 110) of the Taxes Consolidation Act 1997 (Ireland) (TCA 1997 (IRL)). The Section 110 regime facilitates a broad range of financing transactions in which qualifying Irish-incorporated special purpose vehicles (Section 110 SPVs) can participate in the securitisation of assets such as loans, mortgages, and other financial assets in a tax neutral manner. The Irish Section 110 framework is compatible with EU legislation applying to structured finance transactions such as the Regulation (EU) 2017/2402 (Securitisation Regulation) and Regulation (EU) 2017/1129 (Prospectus Regulation), and is the bedrock of Ireland's regulatory landscape for securitisation. Using Ireland as a jurisdiction for structured finance transactions Ireland’s stable political and economic environment, as well as its membership of the EU and the Organisation for Economic Cooperation and Development (OECD), make it an attractive jurisdiction for structured finance transactions....

Discover our 131 Practice Notes on SPV

Project lawyers’ completion documents list—onshore wind farm and ground-mounted solar projects—template

Project lawyers’ completion documents list—onshore wind farm and ground-mounted solar projects—template PROJECT DETAILS PROJECT NAME: [insert name of project] CLIENT: [insert name of client] [Insert name of firm] PROJECT LEAD: [insert name of client/lead partner] PROJECT PARTIES PROJECT PARTY DETAILS Account Bank(s) [insert name of Account Bank] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Account Bank] Agent [insert name of Agent] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Agent] Architect [insert name of Architect] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Architect] Arrangers [insert name of Arrangers] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Arrangers] Civil Design Consultant [insert name of Civil Design Consultant] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Civil Design Consultant] Construction Contractor [insert name of Construction Contractor] (Company Registration No. [insert number]) whose registered office is...

Project lawyers’ completion documents list—waste to energy projects (merchant)—template

Project lawyers’ completion documents list—waste to energy projects (merchant)—template PROJECT DETAILS PROJECT NAME: [insert name of project] CLIENT: [insert name of client] [Insert name of firm] PROJECT LEAD: [insert name of client/lead partner] PROJECT PARTIES PROJECT PARTY DETAILS Account Bank(s) [insert name of Account Bank] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Account Bank] Agent [insert name of Agent] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Agent] Architect [insert name of Architect] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Architect] Arrangers [insert name of Arrangers] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Arrangers] Construction Contractor [insert name of Construction Contractor] (Company Registration No. [insert number]) whose registered office is at [insert registered office of Construction Contractor] Construction Contractor Parent Company [insert name of Construction Contractor Parent Company] (Company Registration No. [insert number]) whose registered office is at...

Dive into our 2 Precedents related to SPV

If there was a situation where there is an SPV borrower, being an English limited company owned by a charity, would anything specific need to be done for the charity to validly: (1) grant limited recourse share security; or (2) enter into subordination arrangements; or (3) would the SPV granting security also need special treatment? it is not itself a charity but is 100% owned by one.

If there was a situation where there is an SPV borrower, being an English limited company owned by a charity, would anything specific need to be done for the charity to validly: (1) grant limited recourse share security; or (2) enter into subordination arrangements; or (3) would the SPV granting security also need special treatment? it is not itself a charity but is 100% owned by one. It is not stated within this question the structure of the charity in question, and you may need to refer to specific rules in relation to the exact structure of the charity. As such we have set out our general information below which we hope you will find useful in your further research. For background information you may wish to refer to our subtopic Charity and not-for-profit. Trading subsidiary For the purposes of this response we have treated the SPV in your question as a trading subsidiary. According to the Charity Commission 'A ‘trading subsidiary’ is a company, owned...

How do I take security over a member’s interest in a limited liability partnership?

How do I take security over a member’s interest in a limited liability partnership? Summary A member of a limited liability partnership (LLP) may create a security interest in favour of a lender over its rights in the relevant LLP. This might be desirable where the member is raising money to make a capital contribution to the LLP or simply to secure an existing loan made for another purpose unrelated to the LLP. The basic mechanism to create security is for the member to enter into a charge or assignment by way of security over its membership rights, such as voting rights and distributions, in favour of the security holder. In addition to any LLP partnership agreement there are several statutory provisions contained in the Limited Liability Partnership Act 2000 (LLPA 2000) and the Limited Liability Partnerships Regulations 2001, SI 2001/1090 (LLPR 2001) which a lender should consider before taking security. Partnership agreement The LLP Act and LLP Regulations The provisions of the LLPA 2000 and...

See the 8 Q&As about SPV

EU Competition law—daily round-up (04/05/2023)

A round-up of EU competition law developments, including (amongst other things) (1) the AG’s opinion recommending that the Court of Justice should uphold appeals regarding tax benefits granted by Luxembourg to companies in the Engie group, and (2) the Commission’s decision to unconditionally clear Norsk Hydro/Alumetal merger after phase II..

EU Competition law—daily round-up (04/11/2022)

A round-up of EU competition law developments, including the latest EUMR developments.

Read the latest 9 News articles on SPV

Top

Trial

��ɫ��

GLOSSARY

SPV definition

What does SPV mean?

View the related checklists about SPV

Checklist for compromises of FCA-regulated entities: information requirements

Starting a development project—checklist

View the related practice notes about SPV

Equity support in project finance

Ireland—Section 110 companies—use and associated tax considerations

View the related precedents about SPV

Project lawyers’ completion documents list—onshore wind farm and ground-mounted solar projects—template

Project lawyers’ completion documents list—waste to energy projects (merchant)—template

View the related q&as about SPV

How do I take security over a member’s interest in a limited liability partnership?

View the related News about SPV

EU Competition law—daily round-up (04/05/2023)

EU Competition law—daily round-up (04/11/2022)

Call us on

Popular Links

HELP & SUPPORT

LEGAL SOLUTIONS

Policies

����ɫ����

Related Content

GLOSSARY

SPV definition

What does SPV mean?

View the related checklists about SPV

Checklist for compromises of FCA-regulated entities: information requirements

Starting a development project—checklist

View the related practice notes about SPV

Equity support in project finance

Ireland—Section 110 companies—use and associated tax considerations

View the related precedents about SPV

Project lawyers’ completion documents list—onshore wind farm and ground-mounted solar projects—template

Project lawyers’ completion documents list—waste to energy projects (merchant)—template

View the related q&as about SPV

How do I take security over a member’s interest in a limited liability partnership?

View the related News about SPV

EU Competition law—daily round-up (04/05/2023)

EU Competition law—daily round-up (04/11/2022)

Call us on

Popular Links

HELP & SUPPORT

LEGAL SOLUTIONS

Policies

��ɫ��