Practices

Corporate Trust Litigation

We serve financial institutions that provide corporate trust services across a spectrum of asset classes, roles, and markets. Their needs are numerous and varied through the transaction life cycle, from initial transaction review to operational administration, regulatory compliance, risk and control, investor inquiries, litigation, events of default, workout and restructuring, termination, successorships, investigations, and insolvency. Ballard Spahr has the multidisciplinary and experienced bench strength required to fully partner with financial institutions and manage these undertakings at each step along the way in a thoughtful, strategic, and holistic way.

We provide corporate trust and agency legal services in structured finance, public finance, project finance, corporate debt, syndicated lending, and other capital markets transactions. Our clients serve in varied roles, including trustee, bond trustee, collateral agent, master servicer, paying agent, loan agent, securities administrator, securities intermediary, and other capacities. Our corporate trust litigators have extensive experience litigating cases in state and federal courts across the country. We frequently draft and litigate Trust Instruction Petitions under the Minnesota Trust Code to obtain court-ordered direction, liability protection, and finality for all parties involved.

Experience 

  • Representation of bond trustee in the Verity Health Systems (a California hospital system) Chapter 11 bankruptcy case venued in the Central District of California, with respect to bond obligations in excess of $300 million
  • Representation of trustee in $315 million settlement of claims against Sanofi relating to Sanofi’s publicly traded contingent value rights issued in connection with the acquisition of Genzyme Corporation
  • Representation of master servicer and paying agent relating to commercial mortgage-backed securities in a $38 million escrow dispute under the pooling and servicing agreement