Landis Rath & Cobb LLP is a premier boutique law firm concentrating on commercial bankruptcy, corporate restructuring and business litigation. We provide sophisticated legal advice and services to national, international and local clients in and out of federal and state courts. Our proven record of success is backed by a commitment to advocate for our clients' interests with personalized service and expert counsel.

Representative Matters

RBC Capital Markets, LLC v. Educ. Loan Trust IV, 2013 Del. Super. Lexis 262 (Del. Super. May, 31, 2013), rev’d, 87 A.3d 632 (Del. 2014).

Landis Rath & Cobb represents U.S. Education Loan Trust IV, LLC (“USELT”), the issuer of more than $2 billion in auction rate securities issued pursuant to a trust indenture, in litigation brought by an alleged noteholder.  In 2011, when the alleged noteholder brought suit in the Court of Chancery bringing wide-ranging claims, USELT successfully moved to dismiss those claims with prejudice pursuant to the indenture’s no-action clause.  The alleged noteholder then brought a narrower claim for alleged unpaid interest in the Complex Commercial Litigation Division of the Delaware Superior Court.  After USELT successfully moved to dismiss the new action, the Delaware Supreme Court reversed and remanded the case, which remains pending.

Read the Court of Chancery’s Opinion

Read the Superior Court’s Opinion

Read the Delaware Supreme Court’s Opinion

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Daniel B. Rath Rebecca L. Butcher