Wilmington Trust, a leading provider of institutional trustee, agency,
and administrative services through its Corporate Client Services (CCS)
business, said today that it has been appointed by the United States
Trustee to the unsecured creditors’ committee in the bankruptcy of
Capital Corporation of the West (CCOW), which filed for Chapter 11
protection on May 11, 2009 in the United States Bankruptcy Court,
Eastern District of California.
Previously Wilmington Trust was appointed indenture trustee on behalf of
creditors who hold approximately $25.7 million of debt issued by CCOW.
Wilmington Trust is not a direct holder of CCOW debt and has no direct
credit exposure to the company or its affiliates. Wilmington Trust is
paid a fee for providing trust services such as those related to the
CCOW case.
Wilmington Trust’s CCS business offers institutional trustee, agency,
asset management, retirement plan, and administrative services for
clients worldwide who use capital market financing structures, as well
as those who seek to establish or maintain nexus, or legal residency,
for special purpose entities. Because Wilmington Trust does not
underwrite securities offerings or provide investment banking services,
it is able to deliver corporate trust services that are conflict-free.
About Wilmington Trust
Wilmington Trust Corporation (NYSE: WL) is a financial services holding
company that provides Regional Banking services throughout the
mid-Atlantic region, Wealth Advisory Services for high-net-worth clients
in 36 countries, and Corporate Client Services for institutional clients
in 88 countries. Its wholly owned bank subsidiary, Wilmington Trust
Company, which was founded in 1903, is one of the largest personal trust
providers in the United States and the leading retail and commercial
bank in Delaware. Wilmington Trust Corporation and its affiliates have
offices in Arizona, California, Connecticut, Delaware, Florida, Georgia,
Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York,
Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel
Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.