GHANA
Benin
Togo
Côte D’Ivoire
Nigeria
Ghana
Law and Practice Contributed by: Adelaide Benneh Prempeh, Michelle Nana Yaa Essuman, David William Akuoko-Nyantakyi and Audrey Nana Oye Addy B&P Associates
Accra
Contents 1. Specific Financial Asset Types p.103 1.1 Common Financial Assets p.103 1.2 Structures Relating to Financial Assets p.103 1.3 Applicable Laws and Regulations p.103 1.4 Special Purpose Entity (SPE) Jurisdiction p.103 1.5 Material Forms of Credit Enhancement p.104 2. Roles and Responsibilities of the Parties p.104 2.1 Issuers p.104 2.2 Sponsors p.104 2.3 Originators/Sellers p.104 2.4 Underwriters and Placement Agents p.104
2.5 Servicers p.105 2.6 Investors p.105 2.7 Bond/Note Trustees p.105 2.8 Security Trustees/Agents p.105 3. Documentation p.105 3.1 Bankruptcy-Remote Transfer of Financial Assets p.105 3.2 Principal Warranties p.106 3.3 Principal Perfection Provisions p.106 3.4 Principal Covenants p.106 3.5 Principal Servicing Provisions p.106 3.6 Principal Defaults p.106 3.7 Principal Indemnities p.107 3.8 Bonds/Notes/Securities p.107 3.9 Derivatives p.107 3.10 Offering Memoranda p.107 4. Laws and Regulations Specifically Relating to Securitisation p.108
4.1 Specific Disclosure Laws or Regulations p.108 4.2 General Disclosure Laws or Regulations p.108 4.3 Credit Risk Retention p.109 4.4 Periodic Reporting p.109 4.5 Activities of Rating Agencies p.109 4.6 Treatment of Securitisation in Financial Entities p.110 4.7 Use of Derivatives p.110
99
CHAMBERS.COM
Powered by FlippingBook