Trustee Clock Still Ticking

Much time has passed since the great financial crash.

In that time, many structured credit lawsuits against underwriters have become time-barred, as per a recent ruling. But the large cases filed this week suggest that trustees may not benefit from the same statute of limitations. Litigants claiming losses in excess of $200 billion (as of 2012) and covering over 2000 trusts (you find them on DealVector) are hoping that a continuing trustee duty may “evergreen” the viability of such cases.

Astonishing dollar amounts remain at stake in the continuing echos of the financial crisis.