Guide

Securitisation and Cayman Orphan
SPVs – Part Three

This article is the third in a series of three articles which examine the key features of a securitisation vehicle and the advantages of utilising an Orphan SPV in the Cayman Islands for a securitisation transaction. In the first article of the series, Securitisation and Cayman Orphan SPVs – Part One, we briefly discuss what a securitisation is, the reasons for undertaking such a transaction and the key features and advantages of a Cayman Islands Orphan SPV, while the second article, Securitisation and Cayman Orphan SPVs – Part Two, discusses the steps to achieve bankruptcy remoteness through a Cayman Islands Orphan SPV in more detail. This third article will focus on the administration of a Cayman Islands Orphan SPV as it relates to a securitisation transaction as well as the Cayman Islands entities which can be used in a securitisation structure.