EXPERTISE

CUSTODY & TRUSTEE SERVICES

The SEDA Experts team is comprised of former industry professionals that provided first hand servicing services to financial institutions and managers such as:

Custody services such as safekeeping, trade processing, and settlement,
Trustee services,
Collateral administration for complex fund structures, and
Fund administration for regulated funds and hedge funds.

Custody services - Our team experience includes cash accounts set up and management, securities trade and settlement, premises and off-premises safekeeping, and reporting. Our expertise also covers policies and procedures, internal operational controls, regulatory guidelines and industry-standard practices with which global custodians must comply in order to guarantee the control and safekeeping of the customer’s assets and, therefore, mitigate the custody risk and potential asset losses.

Indenture Trustee services - SEDA experts professionals worked on various disputes involving Indenture Trustee duties and responsibilities, as well as other fiduciary duties claims. Our experts’ previous industry experience in the role of indenture trustee as well as other related fiduciary roles, allow them to offer invaluable expertise to clients acquired throughout their careers as industry professionals.

Collateral Administration and Fund Administration services - Our team has deep industry experience working in the capacity of collateral and fund administrators covering a vast array of assets including syndicated leveraged loans, corporate bonds, equities, structured credit securities, and derivatives. While acting as fund administrator, we were responsible for Net Asset Value (NAV) calculations, complex fee arrangements, and fund structures (including master and feeder funds), as well as ongoing reconciliation and reporting for investors and accounting purposes.

Disputes, litigation, and consulting engagements, in which SEDA Experts team of professionals were involved, include claims in connection with custodian and trustee alleged failure to comply with their regulatory duties and responsibilities (e.g. fiduciary duties, care, prudence), as well and with their contractual obligations and responsibilities, and ultimately with industry and commercial best practices.

Representative Engagements

Top European Investment Banks v. Major US National Bank
SEDA Experts worked with Plaintiffs’ law firm representing two European investment banks (investors) claim against a 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. SEDA team’s industry experience in Custody, Trusteeship, and collateral administration were provided while assisting the client in pursuing its claims.
Cayman Island Fund v. Top Global Custodian Bank
SEDA Experts assisted a Cayman Island Fund against a Global Custodian for Bernard Madoff investment funds and strategies. 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. SEDA team industry experience in Custody and fund administration was used to assist the Plaintiff throughout the dispute.
Plaintiff Class Action v. Top 5 Indenture Trustee for RMBS Transactions.
SEDA Experts staff assisted a well know plaintiff litigation firm representing Investors in multiple RMBS transactions in which Indenture Trustees (Top Tier US and European Banks) claim against Indenture Trustees alleging that they did not meet their fiduciary duties, nor comply with deal governing documents and their provisions (duties and responsibilities). Once more, The SEDA Experts team provided its industry knowledge as a former Trustee for similar types of transactions.
Securities and Exchange Commission (SEC) v. Top Tier DIP CLO Manager.
SEDA Experts assisted portfolio manager for CLO backed by distressed corporate loans in an SEC claim brought through an Administrative Court (ALJ) against a CLO Manager for alleged fraud and misrepresentation of the financial statements and financial position for syndicated loan issuers that issued loans which comprised several CLOs. The SEDA Experts team advised on the structure, mechanics, ongoing activity, and compliance of the CLOs with their respective governing documents.