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Incorporated cell company: Difference between revisions
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A form of [[espievie]] — seen in the wild in the Cayman Islands, jersey and [[tax haven|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 [[cell]]s. Each cell has its [[legal personality]] though — [[The ISDA Protocol|which if you were literary minded]], might make you picture a multiple personality {{tag|SPV}} with a really confusing interior monologue. | {{a|entity|}}A form of [[espievie]] — seen in the wild in the Cayman Islands, jersey and [[tax haven|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 [[cell]]s. Each cell has its [[legal personality]] though — [[The ISDA Protocol|which if you were literary minded]], might make you picture a multiple personality {{tag|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 {{tag|SPV}}s, where you can achieve more or less the same thing contractually with a combination of [[limited recourse]] and [[security]]. | Contrast with [[segregated portfolio company]], where the cells ''don’t'' have separate [[legal personality]] and the interior monologue is blissful, and with normal old {{tag|SPV}}s, where you can achieve more or less the same thing contractually with a combination of [[limited recourse]] and [[security]]. | ||