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Tag Archives: Fiduciary Duty

Trusts & Estates -Tort/Negligence – Breach of Fiduciary Duty – Real Property Sales – Damages

Turpin v. Lowther Even though the defendant-personal representative distributed the decedent’s real property to the estate beneficiaries before defendant bought the same real property back from the beneficiaries and re-sold it at a higher price, defendant breached his fiduciary duty when he learned the value of the land in his capacity as personal representative but did not relay this information to the beneficiaries

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Insurance – Long-Term Disability – ERISA – Benefits Denial – Standard of Review – Delegation of Fiduciary Authority

Belheimer v. Federal Express Corp. Long Term Disability Plan The defendant-plan did not give Federal Express the authority to delegate its fiduciary duties. Although the plan gave Federal Express the authority to appoint an appeals committee, the plan did not allow Federal Express to outsource the entire process to its third-party administrator.

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Attorneys – Tort/Negligence — Legal Malpractice Claim – Real Property – Closing – Fiduciary Duty – Unfair Trade Practices – Securities

RFT Management Co. v. Tinsley & Adams L.L.P. Since the parties agreed at trial that plaintiff’s legal malpractice claim involved questions of fact that required submission of the claim to a jury, plaintiff may not now complain that it was entitled to judgment as a matter of law on its legal malpractice claim.

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Lender not required to stop borrowers from making bad investment, court rules

A bank has no extra fiduciary duty to a customer if the relationship between them is an ordinary lender-borrower arrangement, a North Carolina Business Court judge has ruled. Judge James L. Gale, in Wells Fargo v. VanDorn, decided that the buyers of mountain real estate did not ask for, nor receive, advice about their purchase from Wells Fargo, and therefore could not later claim the bank had breached a fiduciary duty. In VanDorn, the defendants purchased a lot in a gated-resort community in Watauga County called Laurelmor, using Wells Fargo – the preferred lender for the development – for their financing.

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Attorneys – Fiduciary Duty – Question of Law – Breach – Question of Fact – Former Client – Trusts & Estates – Life Insurance

Spence v. Wingate Although the existence of a fiduciary duty is a question of law for the court, our Court of Appeals was correct that there is a genuine issue of material fact as to whether the defendant-attorney breached his fiduciary duty to his former client. We modify and affirm the Court of Appeals’ decision, which reversed the circuit court’s grant of partial summary judgment for the defendant-attorney.

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