Practical Law UK Glossary 4-107-7534 (Approx. 4 pages)
Glossary
Special purpose vehicle (SPV)
A legal entity created for a limited purpose. SPVs are used for a number of purposes including the acquisition and/or financing of a project, or the set up of a securitisation or a structured investment vehicle. They are usually used because they are free from any pre-existing obligations and debts, and are separate to the parties that set them up for accountancy, tax and insolvency purposes.