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The ITF Seafarers' Trust was established by the ITF Executive Board in 1981 as a body with charitable status under UK law. [1] The Trust financially supports organisations that directly provide welfare services to seafarers, acting as a lobbyist for change in the maritime community, and support long-term programmes that improve maritime workers’ health and welfare. [2]
The trustee must also keep adequate records of the administration of the trust generally. [66] All trust property must stay separate from the trustee's own personal property and must not be "commingled." [67] A trustee can hold certain securities, usually publicly traded ones, in a "street name" or nominee registration for ease of management. [68]
On June 12, 2009, a lawsuit was filed against SIPC's Bankruptcy Trustee, Irving Picard by Maureen Ebel, Roger and Diane Peskin claiming his breach of fiduciary duty for failing to follow rules to make payments to Madoff victims. Picard demanded the Peskins pay back $113,000 they withdrew from Madoff in the 90 days before the firm closed.
Section 211 of The Securities Exchange Act of 1934 mandated that the SEC conduct various studies. Although not expressly required to study the trustee system then in use for the issuance of debt securities, William O. Douglas, who would later become a Commissioner and then Chair of the SEC, was convinced by November 1934 that the system needed legislative reform.
Nicolai Tangen’s podcast isn’t like any other: The guest list includes major C-suite execs at companies that the $1.6 trillion sovereign fund invests in.
The only other legal pre-requisite for the qualification of the interim trustee is the giving of a surety bond to secure compliance with the trustee's responsibilities in the case. Generally, panel trustees will file a "blanket bond" with the U.S. Trustee's office which covers all cases in which a particular trustee is serving.
The U.S. Trustee's office conducts the first meeting of creditors in a Chapter 11 case. Most Chapter 11's do not require the appointment of a trustee: however, in those cases which do, the U.S. Trustee oversees the appointed trustee's handling of the case and, for good cause, can seek the removal or replacement of the trustee.
The Indiana University Board of Trustees violated Indiana’s Open Door Law in Bloomington this summer, a state official has ruled.. Luke H. Britt, the Indiana public access counselor, said the ...