David Bowie ties open paths to art in Abu Dhabi



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One of the financial practices adopted by international singer David Bowie could turn the global Abu Dhabi market into a safe haven for companies in the Middle East that seek to reduce their risks, a law expert said.

Bowie collected 287 rights to his songs and recordings in 1997 in the United States of America in titles known as special purpose vehicles that emit 10-year titles. The $ 55 million bond, known as "Poi Bonds," has provided more than 10 years of US Treasury bonds.

STA's law firm reported that the special-purpose vehicle package now available on the Abu Dhabi Global Market offers significant protection similar to Abu Dhabi-based companies.

Sunil Thacker, senior partner at STA Law Firm, said: "Abu Dhabi's global marketplace is emerging through its dedicated goal system, providing a dynamic platform that meets the needs of many companies and a range of uses."

"Those who set up their companies in the Abu Dhabi market may use special purpose mechanisms as independent legal entities that protect their controlling companies from risk such as high risk financing such as aircraft purchase, asset transfer and other high risk projects."

Paving the way for the modern version of special purpose vehicles, the Buyi Bonds' success has opened new horizons for funding entertainment stars, securing their future income from the profits of their musical and musical compositions.

"This was the first major attempt to securitize and protect copyright," Thacker said. "The issuance of Bowie's titles allowed a large sum of money to be paid without the singer giving up his copyrights."

"Companies that choose to settle on the Abu Dhabi Stock Exchange may use special purpose mechanisms in many areas, from securitization and securitization of risk-sharing loans to investors or partners in joint ventures, which will confirm the market as a safe haven in the area. " .

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