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Trustees › Securitization

Cadwalader, Wickersham & Taft LLP

2019 Year in Review: Securitization Litigation and Regulation

Cadwalader, Wickersham & Taft LLP on

There were significant developments in 2019 as courts continued to issue important decisions in this space and significant legislation impacting the residential mortgage-backed securities (“RMBS”) market came into effect.  A...more

Faegre Drinker Biddle & Reath LLP

Corporate Trust: English Courts Uphold No-Action Clause, Deliver Helpful Guidance on Responding to a Noteholder Direction

Faegre Drinker Biddle & Reath LLP on

English courts are willing to uphold no-action clauses, which are commonly found in transactions involving a trustee structure, and will not be easily persuaded by noteholders that such note issuance clauses can be...more

Hogan Lovells

When the shoe does not fit: direct action clauses – can investors step into the Trustee’s shoes to enforce?

Hogan Lovells on

A recent High Court case (Fairhold Securitisation Limited v Clifden IOM No 1 Ltd) has affirmed that in debt issuances involving a trustee, noteholders have only limited rights to take direct enforcement action.  ...more

Katten Muchin Rosenman LLP

Court Confirms Contractual Limits of Trustee's Duties

Katten Muchin Rosenman LLP on

On April 2, 2018, the US District Court for the Southern District of New York dismissed a proposed residential mortgage-backed securities (RMBS) class action against U.S. Bank, in its capacity as trustee ("U.S. Bank" or...more

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