We are Stibbe Securitisation and Structured Finance specialists

Advising a broad spectrum of clients including originators (public and private sectors), banks, investors and regulators, our team handles some of the most complex transactions in the Benelux.

Securitisation and Structured Finance

As a leading securitisation and structured finance practice in the Benelux, we play key roles in many complex transactions, innovations and in the development of standards and regulation.

With market-leading practices in tax, finance, real estate and capital markets, we are well placed to handle all structured finance transactions. As a result, our team handles most asset classes and transaction types including investments in SPVs by domestic and foreign financial institutions, repo and reverse repo transactions, asset-backed commercial paper, tier one transactions, and domestic/cross-border leveraged leasing transactions involving various types of assets.

Regarding securitisation, we assist corporate borrowers and financial institutions, advising on the structuring and implementation of cash and synthetic securitisations, conduit and term transactions, various structured products (including CDOs) as well as whole business securitisation. We have experience with most asset classes including car loans, trade receivables, real estate (residential and commercial), commodities inventory, tax receivables and others.

Furthermore, our service includes complex litigation on structured products and hybrid instruments.

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26.10.2017 NL law
Autoriteit Persoonsgegevens adviseert negatief over Implementatiewet PSD2

Short Reads - Het wetsvoorstel Implementatiewet herziene richtlijn betaaldiensten ("Wet PSD2") voorziet in de wijziging van verschillende wetten (waaronder de Wet financieel toezicht (Wft) en het Burgerlijk Wetboek (BW)) en de nationale omzetting van Richtlijn (EU) 2015/2366 van het Europees Parlement en de Raad van 25 november 2015 betreffende betalingsdiensten in de interne markt, houdende wijziging van de Richtlijnen 2002/65/EG, 2009/110/EG en 2013/36/EU en Verordening (EU) nr. 1093/2010 en houdende intrekking van Richtlijn 2007/64/EG.

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03.10.2017 NL law
De nieuwe Algemene Bankvoorwaarden 2017 in samenhang met leningen aan het midden- en grootbedrijf

Articles - Sinds 1 maart dit jaar zijn de nieuwe Algemene Bankvoorwaarden van kracht. Ten opzichte van de Algemene Bankvoorwaarden uit 2009, lijkt er op het eerste gezicht inhoudelijk gezien geen sprake van een revolutionaire verandering. Toch is het goed er even bij stil te staan en enige aspecten te belichten die tot nu toe in mijn ogen in de literatuur onderbelicht zijn gebleven, met name in de toepassing van deze voorwaarden op kredietrelaties met niet-consumenten.

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02.08.2017 NL law
Supreme Court: No conflict of interests in a group financing

Short Reads - In a recent judgment, the Supreme Court ruled, based on an application of the so-called Bruil-criterion, that there was no conflict of interests in the relationship between a holding company and its direct and indirect subsidiaries based on the purpose, background and structure of their group financing relationship.

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02.08.2017 NL law
Supreme Court: attribution of the appearance of a power of attorney

Short Reads - In three recent judgments, the Supreme Court clarified the boundaries of the risk principle criterion set out in its ING/Bera judgment: the risk principle does not reach so far that it also applies in situations where the expectations are based solely on statements or behaviour of the unauthorized attorney. The court must also assess the facts and circumstances that concern the unauthorized represented principal to justify the principal bearing the risk of the unauthorized representation.

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23.10.2017 NL law
OTC-Derivaten en de ISDA Master Agreement - (hoe) werkt het naar Nederlands recht? (deel 1)

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04.08.2017 NL law
Proposals to amend EMIR – what does this mean for corporates?

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02.08.2017 NL law
ECB published its 'Guidance on leveraged transactions' on 16 May 2017

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06.04.2017 NL law
Dutch Supreme Court: the holder of a disclosed right of pledge over a receivable is entitled to file for bankruptcy of the debtor of such receivable

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02.08.2017 NL law
Supreme Court: Fraudulent conveyance; knowledge of prejudice

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02.08.2017 NL law
Supreme Court: liability of a company acting as a director

Short Reads - In a recent judgment, the Supreme Court ruled that if a company acting in its capacity as director of another company is liable based on a wrongful act (onrechtmatige daad), Dutch law provides that the natural persons who were acting as directors of that director-company at the time the liability arose are jointly and severally liable. The Supreme Court also ruled that a claimant is not required to state and prove that serious blame (ernstig verwijt) can be attributed to such natural persons acting as directors for the actions on which the liability of the director-company is based.

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06.04.2017 NL law
Revised General Banking Conditions

Short Reads - The Netherlands Bankers' Association (the "NVB") has reached an agreement with business and consumer associations on revised general banking conditions following an evaluation of the old general banking conditions from 2009. The revised general banking conditions (the "GBC") came into effect on 1 March 2017 and will generally apply between Dutch banks and their (business and consumer) clients.

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