Practice/Industry Group Overview
Hinckley, Allen & Snyder has an active and sophisticated corporate trust practice, serving as counsel to the leading corporate trustees worldwide. We advise our corporate trust clients in all aspects of their trust, custodial, administrative and agency business. Our clients turn to us for advice in a wide variety of situations, including transaction closings and post-closing and administration issues.
An interdisciplinary team of lawyers provides a full range of services to corporate trustees across the spectrum of all types and phases of transactions and corporate trust activities, including:
- structured finance matters, including residential and commercial mortgages, equipment leases, automobile loans, credit cards, trade accounts and other loanbacked vehicles, including CLOs and CDOs.
- escrow and specialized agency transactions, including exchange and paying agencies, account bank roles, and collateral agencies;
- corporate debt transactions, including high yield, TIA-qualified, and privately placed debt, Rule 144A and Regulation S offerings, and cross border transactions;
- municipal financings, including industrial development, housing bond programs, health care and educational facility projects, and other types of tax exempt and taxable bond transactions;
- default administration, bankruptcies and litigation, including loan and note defaults, municipal bond defaults, project finance workouts and bankruptcies involving securitizations.
BRINGING VALUE TO OUR CLIENTS
Our attorneys are seasoned and knowledgeable, counseling corporate trust service providers regarding the nature and satisfaction of their document-based duties and fiduciary responsibilities. We also have a broad understanding of the latest developments in the legal, administrative and transactional environment in which corporate trustees operate.
The range of services we provide is complete across the spectrum and includes:
- Structuring transactions in a manner that minimizes legal risk to the trustee and maximizes administrative efficiencies;
- Providing constructive participation in new transactions, with an emphasis on responsiveness;
- Providing best practices advice;
- Providing experienced counsel in resolving complex administration issues;
- Providing experienced and measured advice in all aspects of default administration;
- Providing bankruptcy counsel with experience and knowledge about issues that are specific to the administration of corporate trust matters in bankruptcy and to the protection of the corporate trustee’s own interests in such proceedings;
- Providing regulatory and corporate advice to corporate trustees that are broadly informed by an understanding of the state and federal regulatory environment in which corporate trustees operate.
At Hinckley, Allen & Snyder, we are guided by principles of responsiveness, cost efficiency and accuracy. Our corporate trust attorneys have placed their primary focus on representation and protection of corporate trustees, striving to meet and exceed our clients’ expectations in a challenging market.
- Served as counsel to two large financial institutions in prosecuting their claims against Lehman Brothers in connection with defaults occurring under securitized residential mortgage loans for which the financial institutions served as trustee.
- Served as counsel to three large financial institutions in connection with the sale of over $60 billion in mortgage servicing rights from Aurora Loan Services LLC, a subsidiary of Lehman Brothers, to Nationstar Mortgage LLC.
- Served as counsel to two large financial institutions in connection with a resignation and appointment of a successor indenture trustee and a successor Delaware trustee on multiple Lehman Brothers, Bear Stearns and Merrill Lynch residential mortgage-backed securitization programs.
- Advised the corporate trust business of a large financial institution on administrative and other compliance matters relating to a change in rating status, including obtaining rating agency confirmations in connection therewith.
- Served as counsel to the onshore and offshore Collateral Trustees in the liquidation proceedings of a Jordanian telecommunications company.
- Served as litigation counsel to a large financial institution in connection with a lawsuit by a stockholder in a merger transaction for which the financial institution served as exchange and paying agent.
- Advised the corporate trust business of a large financial institution on numerous regulatory and compliance matters, including Regulation AB, CPO, Rule 17g-5, TIA matters, and proposed changes to rating agency guidelines.
- Counseled the corporate trust businesses of multiple large financial institutions on internal matters, including drafting form documents, providing legal and risk analysis of new transactions, and developing policies and procedures.
- Represented an indenture trustee on multiple asset-backed securitization transactions with large auto and equipment lease issuers.
- Represented financial institutions on numerous domestic and cross-border escrow and specialized agency transactions for which the financial institutions served as escrow agent, exchange and paying agent, collateral agent, and depositary bank.
- Advised a large financial institution on potential acquisitions.
- Served as counsel to multiple large financial institutions as trustee on over sixty municipal financings.