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What is the difference between an “off-balance-sheet special-purpose vehicle” and a dummy corporation?

April 26, 2017corporation difference dummy off-balance-sheet special-purpose vehicle

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What is the difference between an “off-balance-sheet special-purpose vehicle” and a dummy corporation?

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With flexible accounting, scant oversight and, perhaps, inbred ownership, an “off-balance special-purpose vehicle” sounds a lot like what might have been called a “dummy corporation” in a bygone era.