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Home > Practice > Securitization
Securitization
The field of securitization has had a relatively short history in Taiwan as Taiwan's Financial Asset Securitization Act and the Real Estate Securitization Act were only passed by the legislature in 2002 and 2003, respectively. As a result, the laws and regulations governing securitization transactions are still being developed and refined. In these uncharted waters, lawyers need to play a leading role in helping government authorities and industry players in establishing and complying with an effective and commercially viable legal framework.

LCS¡¦ proactive and innovative approach to securitization products and related legal services places the firm in a leading position in the securitization market. LCS has been involved in many major securitization transactions in Taiwan. It has successfully represented major arrangers as well as other parties in many pioneering securitization cases, such as asset-back commercial paper projects (account receivables, structured bonds and CDOs as the underlying assets), real estate assets trust (¡§REAT¡¨) projects and real estate investment trust (¡§REIT¡¨) projects (many of which were landmark deals in Taiwan's securitization history). LCS has been the primary legal counsel in majority of the REAT projects that have been completed in Taiwan. LCS' dominance in securitizations has extended into REITs - LCS has acted as the primary legal counsel in multiple REIT projects in Taiwan. LCS was also the primary legal counsel for a securitization deal involving more than NTD 40 billion structured bonds and CDOs in 2005 and first quarter of 2006. This deal was listed the Euromoney 2006 Asian Innovation Deal of the Year. LCS¡¦ counsels have repeatedly been named Asia¡¦s leading lawyers by Asialaw in the field of securitization.


The services provided by the Securitization Practice Group include¡G
Advising on the legal structure and legality of securitization transactions
Legal due diligence on trust assets of asset securitization transactions
Advising on securitization laws and regulations
Advising on securitization-related tax issues
Drafting and reviewing securitization plans
Drafting and reviewing securitization contracts, management agreement, prospectuses, investment memorandum and all related documents
Advising on hedging plans
Issuing relevant legal opinions
Drafting applications and notices required by law
Communicating with relevant authorities