OzCar Car Dealership Financing Guarantee and Trust Arrangements

Date:

Thursday, 14 May 2009

Content ID:

1536

Abstract:

On 5 December 2008, in a Media Release, 'Car Dealer Financing: Establishment of a Special Purpose Vehicle', the Treasurer announced the establishment of a Special Purpose Vehicle (SPV), with the support of leading Australian banks, to provide liquidity to eligible car dealers who had been left without wholesale floor plan financing as a result of the departure of GE Money Motor Solutions and GMAC from the Australian market following the onset of the global financial crisis.

The SPV otherwise known as 'OzCar' was legally established as a Trust on 2 January 2009. An Information Guide about the operation of the SPV was announced by the Treasurer on 19 December 2008 in a Media Release, 'Treasurer releases update on Car Dealer Financing and the Special Purpose Vehicle'.

The Car Dealership Financing Guarantee Appropriation Act 2009 provides for an appropriation to enable claims to be paid under the Deed of Guarantee in respect of the Australian Government Guarantee to support interim funding to car dealerships, executed on behalf of the Commonwealth on 23 December 2008.

The Commonwealth Government Deed of Guarantee, an overview of the trust arrangements supporting the operation of the OzCar Car Dealership Financing Arrangements and supporting documents are available below.

Car Dealer Financing Support: OzCar Enquiries

Any enquiries relating to the operation of the OzCar Special Purpose Vehicle should in the first instance be directed to Credit Suisse in Sydney who are the Australian Government's appointed managers of the OzCar facility.

Enquiries should be directed to Mr Will Farrant, Credit Suisse, on 02 8205 4891.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Commonwealth Government Guarantee  286.90kb
Overview of the OzCar Car Dealership Financing Guarantee and Trust Arrangements  25.78kb
The Master Trust Deed  618.75kb
Notice of Creation of Holding Trust  64.43kb
Notice of Creation of Trust – Ozcar ABS Trust 2009-1  63.74kb
Subscription Agreement  229.44kb
Series Notice  295.25kb
Acquisition, Custodian and Servicing Agreement  463.04kb
Master Servicing Agreement  247.62kb
Security Trust Deed  290.03kb

Related Items:

There are no related items available for content item 1536.

Treasury Portfolio Ministers - Link to website MoreSuper  - Link to website Carbon Price Modelling - Link to Website Clean Energy Future  - Link to website Review of compensation arrangements for consumers of financial services - Consultation Paper  - Link to website

spacer