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Segregated portfolio company: Difference between revisions
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A form of [[espievie]] where [[limited recourse]] is achieved by operation of the company’s constitutive documents, which segregates the company’s innards into segregated cells, assets in each of which are fully protected from claimants pertaining to other [[cell]]s. While their host [[espievie]] does, the cells in themselves do not have [[legal personality]] though. Contrast with [[incorporated cell company]], where the cells ''do'' have separate legal personality, 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]]. | 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 segregated cells, assets in each of which are fully protected from claimants pertaining to other [[cell]]s. While their host [[espievie]] does, the cells in themselves do not have [[legal personality]] though. Contrast with [[incorporated cell company]], where the cells ''do'' have separate legal personality, 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]]. | ||
{{seealso}} | {{seealso}} | ||