Upon a default, the role of an indenture trustee shifts. As per Section 315 of the Trust Indenture Act of 1939, in the event of a default the indenture trustee must use the same degree of care and skill in the exercise of its rights and powers as a “prudent man would exercise or use under the circumstances in the conduct of his own affairs.”
Ankura Trust specializes in stressed and distressed situations, many of which involve defaults. Our professionals possess the expertise and skillsets to drive value for investors by actively embracing the role of the indenture trustee and applying a ‘principal’s mindset’ and proactive approach to the ‘prudent man’ standard. While we specialize in successor trustee activities, we also will act as indenture trustee for new issuances, including for notes issued as a result of a restructuring or plan of reorganization.
Our specific service offerings include: