American Bar Association
 
Trust Indentures and Indenture Trustees Committee

ABA Section of Business Law


Trust Indentures and Indenture Trustees Committee


Mission Statement



The mission of the Trust Indentures and Indenture Trustees Committee is to consider issues relating to debt issued pursuant to indentures and the institutions that act as trustee under the indentures. Its scope includes all forms of debt and indentures issued in the United States, Canada and internationally, including corporate and municipal debt and secured and unsecured debt extending from simple structures to complex securitizations, project financings and other structured financings. Committee members are involved in activities from structuring and origination of transactions through default and bankruptcy.

Committee Facts

  • Approximately 350 members
  • Two in-person meetings per year. Section of Business Law Spring Meeting programs usually focus on structure and documentation of transactions; while the National Conference of Bankruptcy Judges programs focus on default and bankruptcy. The Committee expects to begin participation in the Annual Fall Business Section Meeting starting in Fall 2013
  • Committee assisted in drafting the Revised Model Simplified Indenture and Commentary, 53 Bus. Law. 1115 (2000) and published Model Negotiated Covenants and Related Definitions in The Business Lawyer, Volume 61, No. 4, August 2006
  • Committee has prepared for publication an annotated version of the Trust Indenture Act, as amended, which will collect relevant cases and commentary, and is to be published in The Business Lawyer Vol. 67, Issue 4, August 2012
  • Committee plans to publish the Revised Model Simplified Indenture and Model Negotiated Covenants in a standalone volume that will include the annotated Trust Indenture Act
  • Committee addresses current industry issues and works intensively with such organizations as the American Bankers Association

Areas of Expertise

  • Debt Issuance and Underwriting
  • Municipal Finance
  • Corporate Finance
  • Securitization and Structured Finance
  • Project Finance
  • Indenture Interpretation and Compliance
  • Trust Indenture Act
  • Bank/Trust Regulatory
  • SEC and Securities Law
  • Investor Relations
  • Rating Agencies
  • Monoline Bond Insurers
  • Bond Default, Restructuring and Bankruptcy
  • Domestic and International Regulation and Capital Markets

Projects



Substantial progess has been made on our Annotated Trust Indenture Act project. The projest is expected to be completed Spring 2009.

We are developing a sub-committee for our next project, an updated Model Simplified Indenture. To the extent youare interested in participating, please contact me.

Join Us



- Join Our Committee
- Join Our Section
- Join The ABA


Leadership



Chair:  Cristeena Gilbert Naser

Vice-Chair:  Mark Frederick Hebbeln

Committee Roster (350 total members)


Links of Interest



Revised Model Simplified Indenture
Trust Indenture Act of 1939

Materials and Publications



2013 Annual Meeting
2013 Spring Meeting
2012 Spring Meeting
Model Negotiated Covenants and Related Definitions (from The Business Lawyer, Volume 61, No.4)
2012 Annual Meeting
more links...

Recent Articles on Corporate Trust Matters



Thanks to our Vice Chair Harold Kaplan, there are several updates in the corporate trust area that may be of interest to our membership. Harold has authored and/or co-authored (i) "Reading Indentures Strictly: The Rise of Delayed SEC Filing Defaults and Aggressive Bondholders," (ii) "Update on Trustee Litigation in the United Airlines Case:Lease Recharacterization and Construction/Reserve Funds" and (iii) "Strategic Considerations in Securing Payment of Indenture Trustee Fees and Expenses in Bankruptcy - An Update." A synopsis of each can be found below. For a copy of the full article, please contact Harold directly (Harold.Kaplan@dbr.com).

more...


Current Developments/Updates



In Re Bank of England Corp., W.L. 70418 (Bankr. D. Ma. 1/9/07). This case summary was contributed by James Gadsden, Carter Ledyard & Milburn LLP in New York, gadsden@clm.com
more...


Subcommittees and Task Forces Click [+] for listing



 Sub Committees

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Modified by Graham Hunt on February 19, 2014

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