Tricolor Asset-Backed Security Trustee Wilmington Trust Resigns

Wilmington Trustis resigning its role as the trustee for asset-backed securities issued by now-bankrupt subprime auto lender Tricolor Holdings, according to a notice it provided to bondholders.

• As a result of Tricolor’s bankruptcy and various roles Wilmington Trust holds “with respect to the Tricolor securitizations and the Tricolor warehouse and loan facilities, WTC hereby notifies the Administrator and the Underlying Depositor under the Underlying Trust Agreement that it gives 30 days’ notice of its resignation as Underlying Trustee”
• Resignation will become effective once a successor is appointed, according to the notice
• A representative for Wilmington Trust didn’t immediately ...