Wilmington Trust to Serve as Trustee in General Motors Bankruptcy
Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, has announced that it is serving as successor indenture trustee for certain holders of approximately $23 billion of unsecured debt securities issued by General Motors Corporation (GM), which filed for Chapter 11 protection on Monday in the United States Bankruptcy Court, Southern District of New York.
Wilmington Trust is not a direct holder of debt issued by GM and has no direct credit exposure to GM.
Read the press release (PDF).