Incorporated cell company
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Legal Entities of the World™
A spotter’s guide to corporate wildlife
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A form of espievie — seen in the wild in the Cayman Islands, jersey and places like that — where limited recourse is achieved by operation of the company’s constitutive documents, which segregates the company’s innards into separately incorporated cells, assets in each of which are fully protected from claimants pertaining to other cells. Each cell has its legal personality though — which if you were literary minded, might make you picture a multiple personality SPV with a really confusing interior monologue.
Contrast with segregated portfolio company, where the cells don’t have separate legal personality and the interior monologue is blissful, and with normal old SPVs, where you can achieve more or less the same thing contractually with a combination of limited recourse and security.