Examining Indenture Trustee Duties
Forthcoming in THE ANATOMY OF FIDUCIARY OBLIGATIONS IN BUSINESS (Cambridge University Press 2020, Arthur Laby & Jacob Russell, eds.).
28 Pages Posted: 21 Nov 2019
Date Written: November 19, 2019
This Chapter examines the duties of indenture trustees appointed under bond indentures. Although their post-default duties generally are subject to a prudent-person standard, indenture trustees have relatively little legal guidance concerning pre-default duties. The rise of activist investors, however, is making it increasingly critical to identify and understand how to perform those duties. This Chapter seeks to provide that understanding.
Keywords: indenture trustees
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