Master Class A


Friday 29 November 2013, 08.45 am – 10.45 am


Key Aspects of Deal Documentation Preparation and Structuring (Case study of the Latest Successful Deals)


Dmitriy Glazounov, Managing Partner, Liniya Prava Law Firm


Oleg Ushakov, Lawyer, Liniya Prava Law Firm


• Legal capacity of a mortgage agent – Which deals a mortgage agent is authorized to make; which operations are usually considered beyond his competence

• New legal requirements for the size of mortgage collateral

• Non-mortgage-backed loan – Is it appropriate for the mortgage collateral? What are the major risks?

• Legal opinion – which legal risks are to be specially considered in legal opinion?

• Other complicated aspects of working on deal documentation


Master Class B


Friday 29 November 2013, 14.45 pm – 18.00 pm


How to Achieve the Best Possible Rating for Your Securitisation Deal


Andrei Murygin, Partner, Linklaters


Denis Skripkin, Senior Manager, Securitisation Department, VTB Capital


• What types of assets could be securitised

• Allocation of rating, requirements to counterparties

• Assessing the quality of collateral, standard requirements to loans

• How to mitigate FX and country risks (hedging and piercing the sovereign ceiling)

• Practical recommendation to the originators

• Pinpointing the most important legal issues impacting securitisation transactions:

– Choice of law (drafting the right clause)

– True sale questions (providing for the full assignment of receivables)

– Transfer of collateral (being aware of reregistration requirements)

– Claw back and “suspect periods” (perils of insolvency of assignor)