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LEGAL DEFEASANCE [2 records]

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Alphabetical list of terms

Record 1 2009-04-20

English

Subject field(s)
  • Loans
  • Accounting
CONT

A legal defeasance occurs when debt is legally satisfied based on certain provisions in the debt instrument even though the debt is not actually paid.

French

Domaine(s)
  • Prêts et emprunts
  • Comptabilité
DEF

Désendettement qui conduit à l'extinction juridique de la dette, même si la dette n'est pas effectivement remboursée, par opposition au désendettement de fait.

Spanish

Save record 1

Record 2 1999-02-18

English

Subject field(s)
  • Accounting
  • Loans
DEF

An arrangement similar to defeasance except that the debtor continues to be contingently obligated for interest and capital payments, notwithstanding the establishment of the irrevocable trust.

CONT

... a debt is extinguished in substance if essentially risk-free assets are irrevocably placed in a trust for the sole purpose of satisfying all the scheduled payments of that debt. This is known as an "in-substance defeasance".

OBS

Compare with "legal defeasance".

French

Domaine(s)
  • Comptabilité
  • Prêts et emprunts
DEF

Technique consistant à faire disparaître du bilan du débiteur des dettes dont l'existence juridique subsiste, mais dont le service est confié à un organisme tiers, à qui des titres ou valeurs sont transférés irrévocablement à cet effet.

OBS

Le désendettement de fait [...] s'oppose à la cession de la dette [...] qui est une extinction juridique de la dette.

OBS

Terme normalisé par le gouvernement de la France.

Spanish

Save record 2

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