John Kaufmann, Of Counsel at Greenberg Traurig, has authored an article titled “Caveat Re-Emptor” for Volume 15, Issue 1 of CCH’s Journal of Taxation of Financial Products. The article examines the treatment of both “capital markets repos” (i.e., sale-repurchase transactions entered into with respect to liquid property, using standard documentation) and what he refers to as “bespoke repos” (highly engineered, one-off sale-repurchase transactions entered into with respect to illiquid assets). The article concludes that, although both types of transaction are referred to as “repos,” they are as different from each other as apples and crankshafts, and advisors should not rely on cases and guidance regarding one type of repo to analyze the other type of repo. To view the article, please click here.