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Lord Capital Track Record

LORD CAPITAL

The LordCap Donau Fund

IFRS 10 Deconsolidation

 

Lord Capital was engaged by a major European oil and gas producer to play a key role in a 300 million securitization of their trade receivables.  The transaction was arranged through a major European bank sponsor whose ABCP conduit provides the senior financing.  Lord Capital invests in the subordinated tranche while also being engaged to exercise certain control rights over the receivables under IFRS 10.  As a result, Lord Capital assumes accounting consolidation responsibility for the entire securitized portfolio, and neither the European seller corporation nor the sponsor bank have any consolidation responsibility.

 

 

 

The LordCap Leman Fund

IFRS 10 Deconsolidation

 

Lord Capital was engaged by a leading European bank who is securitizing a portfolio of collateralized commodity trade finance, initially focusing on the transportation of oil and metals.  The transaction closed in August 2013.  Lord Capital invests in the subordinated tranche and at the same time exercises certain control rights over the entire portfolio.  The IFRS 10 result is the deconsolidation of the portfolio from the sponsor bank balance sheet while Lord Capital takes on consolidation responsibility.