Deutsche Bank Trust Company Americas provides commercial banking services. Its services include accepting deposits, offering loans and financing. The company was formerly known as Bankers Trust Company and changed its name to Deutsche Bank Trust Company Americas in April, 2002. The company was founded in 1903 and is based in New York, New York. Deutsche Bank Trust Company Americas operates as a subsidiary of Deutsche Bank Trust Corporation.
60 Wall Street
New York, NY 10005
Founded in 1903
Samson Resources Corp. Unsecured Creditors Look to Sue JPMorgan Chase Bank NA and Deutsche Bank Trust Co. Americas
Aug 17 16
The official committee of unsecured creditors of Samson Resources Corp. seeks approval to pursue alleged fraudulent transfer claims and causes of action against first- and second-lien lenders as it looks to recover up to $1.5 billion. The committee on Aug. 12, filed a motion in the U.S. Bankruptcy Court for the District of Delaware in Wilmington seeking authority to pursue the claims against first-lien agent JPMorgan Chase Bank NA, first-lien lenders, second-lien agent Deutsche Bank Trust Co. Americas and second-lien lenders. Judge Christopher S. Sontchi has scheduled a hearing on the motion for Sept. 7. Objections are due by Aug. 26. Committee counsel Thomas Lauria of White & Case LLP and debtor counsel Paul Basta of Kirkland & Ellis LLP were unavailable for comment. The committee seeks to prosecute and settle claims from an alleged fraudulent conveyance related to the $8 billion leveraged buyout of oil and gas exploration and production company Samson Investment Co. by private equity sponsors in 2011, four years before the debtor's Chapter 11 filing, and an emergency issuance of second-lien debt nine months after the LBO. The committee also looks to prosecute fraudulent transfer claims against second-lien lenders for the granting of mortgages on previously unencumbered properties immediately before the debtor filed for Chapter 11 protection. Finally, the committee seeks authority to pursue an adversary proceeding to determine the extent of the secured lenders' security interests in certain Samson assets, to avoid improperly perfected liens and to recharacterize or disgorge the adequate protection payments paid to the secured lenders in the Chapter 11 cases. The complaint alleges Samson did not receive reasonably equivalent value for the transfers and the LBO rendered the debtor insolvent and inadequately capitalized at all relevant times. Kohlberg Kravis Roberts & Co. LP (KKR), Natural Gas Partners LP, Crestview Partners LP and Japanese trading giant Itochu Corp. on Nov. 22, 2011, agreed to acquire Samson Investment in a deal that closed on Dec. 21, 2011. In the transaction, Charles and Lynn Schusterman Family Foundation and other related entities sold Samson to a new entity formed by the private equity sponsors, Samson Resources. The buyers financed the LBO with a $2.25 billion reserve-based revolving first-lien credit facility with JPMorgan as administrative agent, a $2.25 billion senior unsecured bridge loan, $180 million in preferred stock and $4.14 billion in equity capital. The debt, the committee asserted, left Samson balance sheet insolvent and inadequately capitalized at closing. On Feb. 8, 2012, the debtor issued $2.25 billion in 9.75% senior notes due 2020 to pay off the bridge loan. The debtor allegedly was facing cash flow problems from falling natural gas prices and an eminent default on its first-lien facility when on Sept. 25, 2012, it entered into a $1 billion second-lien term loan agreement with Bank of America NA as agent. The facility matures Sept. 25, 2018. The second-lien facility provided little to no benefit to the debtor, the committee alleged, as it only shifted secured obligations from the first-lien parties to the second-lien parties, using $853 million of the proceeds to pay down the first-lien debt.
Phoenix New Media Announces Change of Depositary for its ADR Program
Jul 19 16
Phoenix New Media Limited announced that it has appointed JPMorgan Chase Bank, N.A. as the successor depositary for the company's American depositary receipt (ADR) program. JPMorgan will replace Deutsche Bank Trust Company Americas as the depositary for the company's ADR program effective from July 18, 2016. The company has also entered into an amended and restated deposit agreement with JPMorgan to replace the previous deposit agreement with Deutsche Bank.