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Types of risk exposure of securitisation vehicles: typology and legal regime
By Raphaël MORENON11 August 2025Securitisation is a sophisticated financing mechanism that transforms illiquid assets into financial securities that can be traded on the markets. At the heart of this financial engineering is the securitisation vehicle (SPV), a dedicated structure whose role is not limited to the simple purchase of receivables. Its main purpose, as defined by law, is to gain exposure to risks in order to finance or hedge them. Understanding the different ways in which securitisation exposes investors to risk is therefore essential to grasping the flexibility and power of this tool. This technical article extends our analysis of the legal framework for securitisation undertakings in France, by detailing the typology and regime for these exposures. The complexity of these arrangements requires a detailed analysis, often carried out with the support of a lawyer with expertise in banking and financial law. The principle of exposure to risk: a...
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> The practice of seizing propertyA practical, chronological and exhaustive study of the implementation of a property seizure procedure.
We put all our expertise to work to achieve a simple objective: to prevent a property seizure.
International aspects of precautionary measures
As a creditor, how do you protect your rights when your debtor owns assets abroad? Precautionary measures offer a practical solution, but their international implementation raises complex issues. 1 Securing your international receivables Precautionary measures make it possible to secure a receivable by making it...Attachment procedure: stages and formalities
Attachment is a formidable procedure for recovering debts. This mechanism, introduced by the law of 9 July 1991, enables a creditor in possession of a writ of execution to obtain immediate payment of his debt by seizing the sums owed to his debtor by a third party. This article details the...Effects and disputes of attachment for payment: understanding this enforcement mechanism
Attachment is a formidable mechanism for creditors with a writ of execution. This procedure makes it possible to obtain rapid payment of a debt by blocking the sums owed to the debtor by a third party. Its legal effects are immediate and far-reaching, but it is subject to a system of contestation that guarantees the...Particular situations relating to seizures for payment
Attachment for payment, a formidable enforcement procedure because of its immediate effect on claims, raises thorny issues in certain situations. After reviewing the basic principles and standard procedures of attachment for payment, this article looks at situations that require particular attention. 1. Attachment of assets and insolvency proceedings The...Attachment: unavailable and unseizable claims
Some debts are resistant to attachment. Even with a writ of execution in your pocket, you could come up against some solid legal obstacles. To help you understand how this procedure works in general, here's a look at the world of unavailable and unattachable debts. Unavailable debts The fact that a debt is unavailable is a...Attachment of assets and insolvency proceedings
The encounter between a seizure-attribution procedure and the opening of collective proceedings, whether safeguard, reorganisation or judicial liquidation, creates a major area of legal friction. It pits the law of enforcement, which is designed to enable a creditor to recover his debt, against the law...Attachment: pitfalls and case studies
Attachment is a powerful tool for recovering debts. However, certain atypical situations can complicate its implementation. An experienced practitioner needs to be familiar with these special situations to avoid procedural pitfalls and fully master the general operation of attachment for payment. 1. Seizure on oneself: a mechanism...Seizure for sale: fundamental principles and requirements
Seizure for sale is regularly used to obtain compulsory payment of a debt. But do you know how it works? When can it be used? Who can use it and against whom? Our firm of enforcement lawyers analyses the key aspects of this procedure. Introduction: what is an attachment for sale? Attachment for sale is a...What assets can be subject to seizure and sale?
Seizure and sale is a procedure whereby a creditor in possession of a writ of execution can sell the debtor's tangible assets and obtain payment from the proceeds. This compulsory execution measure, provided for in articles L. 221-1 et seq. of the Code des procédures civiles d'exécution (CPC exéc.), raises...The special status of vehicles in repossessions
A vehicle often represents an accessible asset for a creditor seeking to recover a debt. The seizure and sale procedure has its own special features when it comes to land-based motor vehicles. There are a number of rules governing this procedure, ranging from relative unseizability to specific practical arrangements. The seizability of the vehicle The seizability of a vehicle...
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