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Article

McGuireWoods LLP | USA | 18 Oct 2011

Recent cases of interest to fiduciaries: Part 6 trustee liability for investment losses (part one)

Gloria Figel established a trust for the benefit of her son, Terry, and grandson, Spencer, with Wells Fargo Bank, N.A. as trustee.

Article

Orrick, Herrington & Sutcliffe LLP | USA | 22 Aug 2011

Knights of Columbus seek damages from Bank of New York Mellon

On August 16, 2011, the Knights of Columbus amended their complaint against Bank of New York Mellon in New York state court to seek damages from BNY Mellon as trustee of 18 RMBS trusts serviced by Countrywide Financial Corp.

Article

Chadbourne & Parke LLP | USA | 20 Jun 2011

Noteholder claims proceed against trustee for withholding funds to indemnify itself for litigation costs

A New York trial court recently held that a breach of contract claim brought by a third-party beneficiary noteholder of an indenture could proceed to trial against the indenture trustee, JPMorgan Chase Bank (“JPMC”), based on JPMC’s withholding disbursements from the noteholder to indemnify itself for fees and expenses for anticipated litigation.

Article

McGuireWoods LLP | USA | 5 May 2011

Lange v. Nusser, 2011 Cal. App. Unpub. LEXIS 1576 (March 2, 2011)

Ardene Lange executed a revocable trust on January 21, 1997.

Article

Haynes and Boone LLP | USA | 19 Apr 2011

Seventh Circuit provides defined contribution plan fiduciaries with guidance on prudence and a reason to pause

The U.S. Seventh Circuit Court of Appeals recently issued its opinion in George v. Kraft Foods Global, Inc., No. 10-1469 (7th Cir. April 2011), impacting fiduciaries to defined contribution retirement plans such as 401(k) plans.

Article

Day Pitney LLP | USA | 1 Sep 2009

T&E litigation update: Pantazis v. Tsourides

Here's the latest from the Massachusetts courts.

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