Vermögenstrennung bei True Sale Verbriefungen

In the context of the EU Commission's efforts to revive the securitization markets, this book deals with the contractual structuring of true sale securitizations under German law. Taking Luxembourg law into account, the author identifies the structuring of the securitization vehicle as a key element for the legally secure structuring of a true sale securitization and examines in particular the bankruptcy-remote structure of securitization vehicles in the light of the limitations of civil law. Furthermore, the author draws a distinction between true sale securitizations and investment funds and conclusively discusses possible regulatory approaches de lege ferenda.