Wilmington Trust was selected as trustee because of its extensive experience providing trust, custody, escrow, and investment management services to public entities, including state governments and Native American tribes. An additional qualification was the company’s significant experience as a trustee for environmental mitigation trusts.

The trustee was chosen by a committee representing the US Department of Justice, Environmental Protection Agency, the, US states, territories, and Native American nations, and was approved by the US District Court for the Northern District of California.

Wilmington Trust chaired the unsecured creditors’ committee for both the General Motors Corporation and Lehman Brothers bankruptcy cases. The company also served as trustee for the Greece debt restructuring program. Additionally, Wilmington Trust served on the unsecured creditors’ committee in the Washington Mutual, Inc., WorldCom, General Growth Properties, and Tribune Company bankruptcies, among others.

Wilmington Trust will work with the various parties to finalize the trust agreement, which will require approval by the court.

All 50 states, the District of Columbia, Puerto Rico, and Native American nations are potential beneficiaries of the trust.