Chancery Wants Student Loan Trust Fee Feud Resolved Fast
3 months ago
Law360 (May 7, 2020, 8:45 PM EDT) — Pointing to looming risks of legal bill defaults, a Delaware vice chancellor ordered groups battling over control of a formerly $15 billion student loan investment empire to find a way to choose common counsel for the fee disputes, as a pivotal contract argument approaches.
The outcome of the argument on “common contract issues,” scheduled for May 15, could begin to clarify who’s in charge of the troubled National Collegiate Student Loan Trust and the oversight of some 800,000 collateralized student loans — some allegedly mismanaged.
Vice Chancellor Joseph R. Slights III gave the sides until May 14 to come up with…
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