Can a Trustee prosecute fraudulent transfer and tortious interference claims if no event of default on the notes it oversees has yet occurred? This was the question of first impression (at least in New York) recently...more
The concept of default-rate interest — interest that accrues on a debt at a higher-than-normal rate if the debtor defaults on terms of the underlying financial instrument — is well known. Default-rate duties, however, may be...more
For many, the term “champerty” might be more readily associated with Monty Python whimsy than sophisticated legal argument. And while champerty is in fact an “ancient legal doctrine” that finds its genesis in medieval...more
Three recent corporate trust decisions provide insight into issues of jurisdiction, standing of indirect holders and the authority of limited direct certificateholders to direct trustees. The U.S. Supreme Court has left alone...more
A Petition for Certiorari is pending before the Supreme Court of the United States in the case of Ambac Assurance Corporation v. U.S. Bank National Association, asking the Court to consider the constitutionality of whether...more
To be an “interested person” under the Minnesota Trust Code, a party must have a property right in or claim against the assets of the trust arising out of the trust instrument itself, not merely a possibility of becoming a...more