RBC Capital v. Education Loan

Summary

he plaintiff-below/appellant RBC Capital Markets, LLC (“RBC”) appeals from a Superior Court judgment dismissing its claims against the defendantsbelow/appellees U.S. Education Loan Trust IV, LLC (the “Issuer”) and Education Loan Trust IV (the “Trust”), (collectively, the “Defendants”). RBC sued the Defendants in the Court of Chancery in 2011. RBC’s complaint alleged that the
Defendants had been paying excessive fees from the Trust. The court dismissed the Chancery action as barred by the Trust Indenture’s “no-action” clause.