Wilmington Trust to Serve as Trustee in General Motors Bankruptcy

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Mon Jun 1, 2009 9:23am EDT

No Direct Credit Exposure Involved in Trustee Role Representing Bondholders
WILMINGTON, Del.--(Business Wire)--
Wilmington Trust, a leading provider of institutional trustee, agency, and
administrative services through its Corporate Client Services (CCS) business,
said today that it is serving as successor indenture trustee for certain holders
of $23.075 billion of unsecured debt securities issued by General Motors
Corporation (GM), which filed for Chapter 11 protection today 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. In its role as successor indenture trustee, Wilmington
Trust receives a fee for performing administrative services on behalf of
bondholders it represents. 

"Our trustee assignment in GM`s bankruptcy is another indication of CCS`
position as a leading global provider of independent trustee and administrative
services for corporate clients," said Ted T. Cecala, Wilmington Trust`s chairman
and chief executive officer. 

Wilmington Trust`s CCS business offers institutional trustee, agency, asset
management, retirement plan, and administrative services for clients worldwide
who use capital market financing structures, as well as those who seek to
establish or maintain nexus, or legal residency, for special purpose entities.
Because Wilmington Trust does not underwrite securities offerings or provide
investment banking services, it is able to deliver corporate trust services that
are conflict-free. 

About Wilmington Trust

Wilmington Trust Corporation (NYSE: WL) is a financial services holding company
that provides Regional Banking services throughout the mid-Atlantic region,
Wealth Advisory Services for high-net-worth clients in 36 countries, and
Corporate Client Services for institutional clients in 88 countries. Its wholly
owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is
one of the largest personal trust providers in the United States and the leading
retail and commercial bank in Delaware. Wilmington Trust Corporation and its
affiliates have offices in Arizona, California, Connecticut, Delaware, Florida,
Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York,
Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands,
London, Dublin, Frankfurt, Luxembourg, and Amsterdam. 





Wilmington Trust Corporation
News Media
Bill Benintende
Public Relations
302-651-8268
wbenintende@wilmingtontrust.com
or
Investors and Analysts
Ellen J. Roberts
Investor Relations
302-651-8069
eroberts@wilmingtontrust.com



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