Both Wachovia Bank and the heirs to an Iraqi general's fortune have asked Georgia's court of appeals to undo damages done to them by a lower court ruling. The case -- which centers on charges that Wachovia mismanaged a living trust -- tests to what extent a bank can be held responsible for investment decisions that expose an estate to higher taxes. The issue is clouded by the bank's unsuccessful efforts to contact the client, who died in an Iraqi prison.
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Iraqi Heir Loses Half of Estate, Blames Bank
Daily Report
October 28, 2003
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