TY - JOUR
AU - Raines, Marke
AB - 108 Capital Markets Law Journal, Vol. 8, No. 1 The standard of care owed by solicitors in the London structured debt capital markets Marke Raines* Key points The required standard of care for solicitors in the structured debt capital markets is not necessarily the standard set by leading practitioners. The required standard of care does not require external solicitors to ensure that the transaction documents are consistent with the transaction cash flow model. Nonetheless, the required standard of care may be frequently, and perhaps unavoidably, breached on London structured debt capital markets transactions due to transaction time and staffing constraints. The most likely breaches will be drafting errors. Most breaches of the required standard of care will not be discovered so long as the transaction credit structure performs. 1. The London structured debt capital markets The London structured debt capital markets began with the completion in 1985 of the first securitization of UK residential mortgages originated by the Bank of America. Securitization grew and was complemented by structured investment vehicles, asset- backed commercial paper conduits, repackagings, collateralized bond obligations, collateralized debt obligations and variations on those structures, in the UK and across Europe. The market is still large, although 
TI - The standard of care owed by solicitors in the London structured debt capital markets
JF - Capital Markets Law Journal
DO - 10.1093/cmlj/kms048
DA - 2013-01-18
UR - https://www.deepdyve.com/lp/oxford-university-press/the-standard-of-care-owed-by-solicitors-in-the-london-structured-debt-oxlIIH0Ln3
SP - 108
EP - 116
VL - 8
IS - 1
DP - DeepDyve
ER -