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The Insolvency Lawyers Association (ILA) have announced details of their new sponsors. U.S. Bank Global Corporate Trust Services is the new sponsor of the ILA. The ILA notes, "U.S. Bank's parent, U.S. Bancorp is one of the highest rated banks in the world today and one of the largest providers of debt trustee and loan agency services worldwide with more than $3.5 trillion in assets under administration. U.S. Bank's European team provides a range of services including facility agent, security trustee, escrow agent, paying agent and collateral administration services throughout Europe."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...