Cayman Islands:
Tax Blockers And US CLOs: Best Practice For Restructuring Distressed Assets
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With certain sectors of the economy still under severe stress
from the COVID-19 pandemic, the potential for defaulted assets
within CLO portfolios has drawn the attention of collateral
managers, who in many cases are turning to a familiar solution. In
line with prior downturns, over the last number of months we have
seen a significant rise in the formation of 'tax blocker'
subsidiaries for existing US CLO issuers with exposure to affected
assets. To help enlighten our discussion, we are joined by Joelle
Berlat, a Managing Director in Deloitte Tax LLP's Houston
office in the US.
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