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20 Jun 2019

Successor note trustee roles (opportunities and pitfalls)


The exponential growth of the debt capital markets before the Lehman crisis, and increasingly complex issues and conflicts arising on highly structured transactions, have resulted in note trustees finding themselves in situations where they are unable or unwilling to continue acting. It is certainly more common now than it was a decade ago to see note trustee roles being transferred to successors.

In turn, this has led to the emergence of a new breed of independent trustee - the so-called "challengers".

This article explores the potential opportunities and pitfalls which a successor trustee role can present for both the incumbent trustee and the successor trustee.

Click here to read more.