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Guaranteeing Notes with BVI subs.


libor.plus1
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Does anyone here know the ramifications of a company issuing notes, and guaranteeing those notes with BVI subsidiaries?

 

I'm assuming in the case of a default, the creditors only recourse is to go to the BVI entities... but is that possible? I assume the reason companies incorporate BVI subs is to avoid liabilities... Can someone shed some light on this?

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