Securitization (Structured Financing)
LAW JD 987
Securitization is a process which converts illiquid financial assets (e.g., loans, receivables) into liquid and tradable financial assets (securities). After an overview of the financial system we follow the process: creating loans, transferring loans to an entity, choosing the entitle (form, possible regulation and tax considerations), distributing the entity's securities, and examining global-cross-border securities. Because the process touches on many legal areas (e.g., banking, securities regulation, regulation of investment companies, corporation, trusts, UCC, bankruptcy, contract, and fiduciary duties) the class offers a high level understanding of the process and awareness of the issues on which it touches, focusing on planning. Students are graded on 2 short papers (up to 10 double-spaced pages) offering problems in particular topics related to the materials. Papers should be completed after presentation in class. Teaching book: Tamar Frankel, Securitization (2006) (a treatise without the footnotes), with discussion topics and problems. NOTE: This course satisfies the Upper-class Professional Skills requirement.
SPRG 2016 Schedule
|A1||LAW 203||MW 2:10 pm-3:35 pm||Stamped Approval|