A consortium of high-ranking bankers and lawyers are eagerly pitching the tax and legal benefits offered by doing business in the nation of Bermuda. Coordinated by the Bermuda International Business Bureau (BIBA), representatives from some of the largest Bermudan law firms and banks are essentially roadshowing the former British colony just off the coast of South Carolina as a future hotbed of securitization activity. And they are not wearing Bermuda shorts.

According to Ken Robinson, partner at law firm Appelby, Spurling & Kempe, because Bermuda's legal system is based primarily on U.K. common law, the framework is more creditor-friendly, offering the possibility of securitizing a wider array of assets.

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