Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Judge Marrero http://nycourts.law.com/CourtDocumentViewer.asp?view=Document&docID=44466 DEFENDANT MOVED for summary judgment in an action for breach of fiduciary duty arising out of defendant’s management of an inter vivos trust. Plaintiff alleged that defendant mismanaged trust assets, wrongfully retained assets it should have sold, and failed to diversify trust assets. Defendant moved for summary judgment. Defendant contended that, even if defendant breached its fiduciary duties, plaintiff suffered no damages. Defendant argued that the trust did not lose any capital, that as a remainderman, plaintiff could sue only for lost capital, and that even if he could also sue for lost income to the trust, there was no lost income. The parties disputed whether defendant’s management of the trust resulted in lost income. The court said it need not resolve the dispute as it had determined that plaintiff could establish some amount of damages for which defendant would be liable if a trier of fact found a breach of fiduciary duty. The court denied defendant’s motion.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.