Note-holders’ claims. 3. Contract Terms An indenture trustee has a fiduciary duty to the noteholders and is required to act with the same care as if it owned the investment. See, e.g., Flight Transp. Corp., 874 F.2d at 578 (citing Trust Indenture Act of 1939, 15 U.S.C. § 77aaa-ooo(c)). The Indenture in this case incorporates this standard by mandating that WTC’s services be performed with “the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of his own affairs.” (See Indenture at § 7.1(a).) If the indenture trustee fulfills its duties, it is entitled to reimbursement of its expenses, including attorneys’ fees, in accordance with the terms of the indenture. See, e.g., Flight Transp. Corp., 874 F.2d at 583 (<HOLDING>); In re W.T. Grant Co., 119 B.R. 898, 900
holding that the indenture trustee has a separate contractual claim for its fees and expenses holding that the bankruptcy court abused its discretion in awarding opposing counsels attorneys fees and expenses as sanctions without affording the sanctioned party the right to examine question or provide argument against the claimed fees and expenses holding that a trustee in a proceeding under chapter x of the bankruptcy act did not have standing to assert on behalf of the holders of debentures issued by the bankrupt in reorganization various negligence claims against an indenture trustee holding parties agreement provided clear contractual justification for the award of costs and expenses including attorneys fees to the prevailing party holding that the relevant indenture agreement allowed the trustee to bring tort and fraud claims on behalf of the bondholders