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True Sale Opinions - What You and Your Auditor Need to ConsiderCode: 23-TRUSALE
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Course description and objectives:
A true sale opinion is an attorney’s conclusion that transferred financial assets have been sold and are beyond the reach of a transferor’s creditors and that a court would conclude that the assets would not be included in the transferor’s bankruptcy estate. There are many considerations related to these types of opinions, perhaps most importantly is how they are evaluated and whether they can be relied on as evidence. In this course, we explore many of the burning questions as it relates to true sale opinions.
After reading the materials, participants will be able to:
- Recognize when a true sale opinion is generally required to be obtained
- Identify considerations regarding whether internal legal counsel can issue a true sale opinion
- List specific language that should not be included in a true sale opinion
- Recognize characteristics of a nonconsolidation opinion
Presentation Method: Self-Study
CPE credit: 1 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase