Corporate Trust Law
Riker Danzig's strong reputation for our representation of financial institutions, firmly established within the state, has attracted an increasing number of national and international clients in recent years. We represent the major New Jersey banking institutions as well as New Jersey thrift institutions and other lenders in a variety of transactions. Our corporate lawyers regularly serve as counsel for national institutions located in New Jersey such as Chase Bank, N.A., Bank of America, N.A., Peapack-Gladstone Bank, Provident Bank, Santander Bank, US Bank N.A., The Bank of New York Mellon and Wells Fargo Bank, N.A.
Representation of corporate trustees, collateral agents, escrow agents and other institutional fiduciaries has long been a focal point of the firm's financial institutions practice. We serve as trustee counsel on an ongoing basis for the corporate trust departments of major banks including U.S. Bank National Association and The Bank of New York Mellon. Those institutions are actively involved on a state and national level in all types of activities ranging from trusteeships on traditional corporate bond issues and other state and municipal bond issues to massive public and private debt issues, and restructurings of many of America's largest corporations. In addition, the firm has represented institutions as collateral trustee whereby the trustee was granted liens on virtually all assets of the corporation for the equal and ratable benefit of the public and private debt holders.
Several of these corporate trust matters became bankruptcy cases and the firm has developed a strong specialty in handling bankruptcy and insolvency matters on behalf of corporate fiduciaries. In one bankruptcy, the firm represented the trustee for many years in dealing with competing claims as to the aircraft collateral and ultimately acting as liquidating trustee in disposing of the bulk of the aircraft fleet. In another bankruptcy, the firm represented the trustee in a case of national significance relating to the ability to draw on a letter of credit.
Over the years, the firm has been exposed to numerous situations involving the transfer of fiduciary responsibilities from one institution to another. We have handled the negotiations on behalf of our client in those matters. We represented a major New Jersey bank in the purchase of the corporate trust and agency business of a competing institution. Our involvement included drafting and negotiating the sale agreement, due diligence on the transferred accounts and general corporate and regulatory advice.