Pooled investment vehicle rules allow borrowing and secured debt issuance, with lender recovery against trust assets and unit holder residual rights. Amendments define pooled investment vehicle, treat debt securities, marketable instruments and units of such vehicles as securities, and add a provision allowing pooled investment vehicles to borrow, issue debt securities and grant security interests. On default, lenders may recover against trust assets by proceeding against the trustee, with any surplus payable to unit holders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pooled investment vehicle rules allow borrowing and secured debt issuance, with lender recovery against trust assets and unit holder residual rights.
Amendments define pooled investment vehicle, treat debt securities, marketable instruments and units of such vehicles as securities, and add a provision allowing pooled investment vehicles to borrow, issue debt securities and grant security interests. On default, lenders may recover against trust assets by proceeding against the trustee, with any surplus payable to unit holders.
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