U.S. Trust calls itself one of the nation's 10 largest trustees for long-term public debt issues.

"We were scared to death of U.S. Trust going into play."

"U.S. Trust has failed to discharge this duty to the estate and the charitable beneficiaries."

U.S. Trust did not respond to several calls seeking comment.

It acquired U.S. Trust in 2000 and recently announced an initiative to offer advice to customers.

It could also look to sell U.S. Trust, analysts said.

U.S. Trust is the investment adviser for the funds.

U.S. Trust says it has final liquidation figures for eight of the 13 trusts.

And if U.S. Trust were to back out, he said at the time, "we won't proceed further than the excavation."

U.S. Trust didn't, the building went up on schedule and, unlike other towers of the time, it remained fiscally sound.