September 23, 2016
This RFP seeks to retain the services of one Special Counsel firm to provide legal representation, assistance and advice with respect to the OST’s investment, banking and cash management obligations and services as more specifically detailed below.
The Vendor should be prepared to offer the following services:
A. General. The Vendor will be expected to familiarize itself with the OST’s investment, banking and cash management operations, systems, and policies, as well as the legal obligations, duties and responsibilities of the OST and the Board without cost.
B. Specialized Legal Memoranda: Upon request, the Vendor shall research and prepare specialized legal memoranda regarding various banking and investment matters, including but not limited to analyzing the existing status of the State’s collateral arrangements, range of means to effect collateral arrangements and perfection of security interests in different arrangements.
C. Transactional Documents. Upon request, the Vendor shall prepare, draft and negotiate on behalf of the OST the terms and conditions for current and upcoming banking services and investment manager contracts, requiring both expertise and current familiarity with the market, and provide advice to the OST regarding same (“Transactional Documents”).
D. Governance and Policy Documents. Upon request, the Vendor shall review and draft governance documents and Investment Policy Statements regarding the Board.
E. Other Matters.
1. The Vendor may be requested to render advice concerning those laws, including, but not limited to, securities laws, and other laws, that may apply to or otherwise affect the OST’s or the Board’s investment, banking or cash management obligations, services, and legal risks. State of Delaware Office of the State Treasurer RFP: Request for Proposals for Special Legal Counsel Page 5 of 16
2. The Vendor may be asked to provide legal advice concerning the structuring of investment, banking and cash management operations of the State.
3. The Vendor may be asked to provide legal advice with respect to the Board’s or the OST’s monitoring, oversight and ongoing administration of its investments, including, but not limited to:
(i) Bankruptcy matters (advisory and/or litigation services with a focus on protection of the State’s rights in proceedings brought under federal bankruptcy or state receivership laws); and
(ii) Securities law issues that may arise in conjunction with the receipt of distributions.