Special Purpose Vehicle

(redirected from Special-Purpose Vehicles)

Special Purpose Vehicle

A subsidiary of a company that attempts to isolate risk from the parent company by maintaining its assets and liabilities on a completely separate balance sheet. It can be used as a counterparty in swap transactions, or the parent company can finance a project through an SPV that would put the parent company in danger of bankruptcy if the project does not perform well. During the Enron scandal, SPVs developed notoriety because Enron hid much of its debt in SPVs.
References in periodicals archive ?
Moreover, the number of imported special-purpose vehicles increased by 16 units and amounted to 81.
Auto Business News-May 15, 2019--BMW launches tailor-made special-purpose vehicles
M2 EQUITYBITES-May 15, 2019--BMW launches tailor-made special-purpose vehicles
The office will also monitor any debts that are published by the federal government, statutory bodies and special-purpose vehicles in a holistic manner.
Voluntary ex ante transparency notice: Purchase of motor vehicles, Except special vehicles and special-purpose vehicles
China-based Foton, which manufacturers trucks in partnership with Daimler of Germany, unveiled its full range of light, medium and heavy duty trucks and special-purpose vehicles, at an event in Dubai.
"Backed by our automotive dealership expertise spanning 35 years, Liberty Automobiles has decided to expand its portfolio by entering the new segment of trucks and special-purpose vehicles," said Sheikh Khalid Bin Abdul Aziz Al Qasimi, chairman of Liberty Investment Company, holding company of the Liberty Group.
Summary: DUBAI - Liberty Automobiles, one of UAE's oldest and reputed automotive dealers, has diversified into dealership of heavy, medium and light duty trucks and special-purpose vehicles, following an agreement with Beiqi Foton Motor Co Ltd (Foton), China, which manufactures these vehicles in partnership with Daimler.
Laxa Special Vehicles (http://www.laxasv.se), which has a long- term cooperation with Scania, is responsible for adapting cabs and chassis for special-purpose vehicles such as heavy-haulage vehicles and fire engines.
Historically, locations such as Bermuda, the Cayman Islands and most recently, Ireland, have been popular jurisdictions for insurance special-purpose vehicles, also called special-purpose entities.
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The categories in which the vehicles were honoured were Cross-Country Vehicles, Luxury Cross-Country Vehicles, Sports Utility Vehicles, Luxury SUVs, Classics, Pick-Ups, Special-Purpose Vehicles and Crossover Vehicles.