This two-part article discusses the key concerns, from a non-consolidation and true sale perspective, that arise when an insurance company, as opposed to a bankruptcy-eligible entity, is a sponsor/seller in a securitization or similar structured finance transaction. This Part One introduces the main contrasts between non-con and true sale analysis in a traditional bankruptcy context and such analysis in an insurance-law scenario.
USA, Insolvency & Restructuring, Insurance, Litigation, Kramer Levin Naftalis & Frankel LLP, Supreme Court of the United States