Special Purpose Vehicles
At Newhaven our management team at is made up of legal, accountancy and finance industry professionals who bring a wealth of experience to the management and administration of special purpose vehicles, or SPVs.
SPVs can be used for a variety of purposes, such as:
- Structured finance
- Repackaging programmes
- Debt instruments
- Commercial paper
- Securities issues
- Fractional Ownership structures
- Intellectual Property holding vehicles
We can arrange and manage SPVs and suitable structures to keep these vehicles remote from the balance sheet if required.
The asset and liability segregation offered by cellular companies provide many advantages. We have significant experience in these types of companies and administer a wide range of structures using cellular models.
> Protected Cell Companies (PCCs)
PCCs are a specific form of SPV. Assets are placed into separate cells within the same company, so that if a financial problem involves one of the cells, the assets of the others are not available to the creditors. This ‘ring-fencing’ makes PCCs ideal for securitisations as subsequent issues avoid the need to set up new SPVs, providing savings in time and cost.
> Incorporated Cell Companies (ICCs)
An ICC has cells like a PCC but as separately incorporated and distinct legal entities to provide an extra layer of protection for investors. An ICC can be used instead of a PCC if there is no need to be a single legal entity or if there is a need to spin off incorporated cells as stand-alone companies at a later date for asset disposal.