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Tuesday, November 20, 2007 12:34:14 PM
Check 21, IFGX.
According to this webpage, a Special Purpose Corporation (SPC) is a type of Special Purpose Vehicle (SPV) and not a Special Purpose Acquisition Company (SPAC):
http://www.businessdictionary.com/definition/special-purpose-corporation-SPC.html
"special purpose corporation (SPC)
Definition
Legal entity created to insulate the issuer of an asset based security (such as one based on a pool of mortgages) from the originator (such as the mortgagee) of the asset collateralizing the security. It is a type of special purpose vehicle."
Here's another one:
http://www.expertclick.com/NewsReleaseWire/default.cfm?Action=ReleaseDetail&ID=8840
It's in part II
"All of the following are examples of SPEs: Special Purpose Corporations (SPCs) which may or may not be Special Purpose Subsidiaries or captives; Master Trusts; Owners Trusts; Grantor Trusts; Real Estate Mortgage Investment Conduits (REMICs); Financial Asset Securitization Investment Trust (FASIT); Multiseller Conduits; Single Seller Conduits; and certain Domestically Domiciled Corporations.
"
So it looks to me EFGO set up a type of SPV/SPE and it's the better of the two.
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