Financial Services and Complex Securities
CUSTODY & TRUSTEE SERVICES
Custody & Trustee Services
Our team has comprehensive industry experience in custody and trustee services for structured finance vehicles, from simple form of trusteeship and custody (i.e. “naked” trustee and custodian) to more complex structures such as indenture trustee for structured credit vehicles and funds of funds.
Our custody experience includes cash accounts set up and management, securities trade and settlement, premises and off-premises safekeeping, and reporting. Our expertise also covers policy and procedures, internal operational controls, regulatory guidelines and industry standard practices that global custodians and trustees have to comply with, in order to guarantee the control and safekeeping of the customer’s assets and therefore mitigate the custody risk and potential asset losses.
Disputes, litigation and consulting engagements in which we were involved, included claims in connection with custodian and trustee alleged failure to comply with their regulatory duties and responsibilities (i.e. fiduciary duties, care, prudence), as well and with their contractual obligations and responsibilities, and ultimately with industry and commercial best practices.
Top European Investment Banks v. Major US National Bank
European investment banks (investors) claim against an U.S. bank, in connection with an ABCP transaction backed by residential mortgages, for alleged failure to provide Trustee, Custodian, and Collateral Agent services in compliance with governing documents, and industry best practices.
Cayman Island Fund v. European Global Custodian
Hedge Fund (CIMA registered) claim against the Global Custodian for alleged failure to, safe-keep and control the assets as well as failure to comply with its duties and responsibilities as Custodian based on contractual, industry market best practices, and regulatory requirements.
US Investment Trust v. U.S. Global Custodian
Family Investment Trust claim against the Custodian for alleged failure to protect, safe-keep and control the assets as well as failure to comply with its duties and responsibilities as Custodian based on contractual, industry market best practices, and regulatory requirements