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Breach of Fiduciary Duty

Jan 31, 2017

Tort/Negligence – Breach of Fiduciary Duty – Aiding & Abetting – Corporate – Internal Affairs Doctrine

Islet Sciences, Inc. v. Brighthaven Ventures, LLC (Lawyers Weekly No. 020-016-17, 17 pp.) (Gregory McGuire, J.) 2017 NCBC 5 Holding: Even though plaintiff is a Nevada corporation, and even though Nevada recognizes a claim for aiding and abetting breach of fiduciary duty, the internal affairs doctrine does not require the court to apply Nevada law […]

Jan 27, 2017

Arbitration – Breach of Fiduciary Duty – Medical Malpractice Claim – Patient Paperwork

King v. Bryant (Lawyers Weekly No. 010-027-17, 44 pp.) (Sam Ervin IV, J.) (Michael Morgan, J., not participating) (Mark Martin, C.J. & Paul Newby, J., dissenting separately) Appealed from Cumberland County Superior Court (Lucy Inman, J.) On discretionary review from the Court of Appeals. N.C. S. Ct. Holding: The court refuses to enforce an arbitration […]

Dec 20, 2016

Corporate – Tort/Negligence – Breach of Fiduciary Duty – Minority/Controlling Shareholder – First Impression

Corwin v. British American Tobacco PLC (Lawyers Weekly No. 011-413-16, 38 pp.) (Lucy Inman, J.) Appealed from Guilford County Superior Court (James Gale, C.J.) N.C. App. Holding: When a minority shareholder owns eight times more shares than any other shareholder, is the sole source of equity financing for a transformative corporate transaction, has a contractual […]

Sep 29, 2016

Tort/Negligence – Breach of Fiduciary Duty – Domestic Relations – Husband & Wife – Fraud & Constructive Fraud

Poulos v. Poulos (Lawyers Weekly No. 020-066-016, 30 pp.) (Gregory McGuire, J.) 2016 NCBC 71 Holding: The plaintiff-wife has made a showing that, after the defendant-husband consulted with a divorce lawyer, the husband presented the wife with the signature pages of documents that transferred significant marital assets to a limited liability company of which the […]

Sep 26, 2016

Tort/Negligence – Breach of Fiduciary Duty Claim – Accountant – Independent Auditor – Contributory Negligence & In Pari Delicto

CommScope Credit Union v. Butler & Burke, LLP (Lawyers Weekly No. 010-037-16, 14 pp.) (Mark Martin, C.J.) (Cheri Beasley, J., not participating) Appealed from Catawba County Superior Court (Richard Doughton, J.) On discretionary review from the Court of Appeals. N.C. S. Ct. Holding: An independent auditor’s agreement to “obtain reasonable assurance about whether [plaintiff’s] financial [[...]

Jul 12, 2016

Adversarial negotiation does not erase duty

It is well-established that a separating spouse’s fiduciary duties to the other party evaporate the moment one of them hires an attorney and the relationship becomes adversarial. It was only established recently — in a June 20 North Carolina Business Court decision in RCJJ, LLC v. RCWIL Enters., LLC, to be specific — that the […]

Jul 5, 2016

Real Property — Mortgages – Foreclosure – Former Trustee – Representation of Petitioner – Civil Practice – Motion to Dismiss – Discovery – Request for Admissions

In re Foreclosure of Cain (Lawyers Weekly No. 011-226-16, 20 pp.) (Ann Marie Calabria, J.) Appealed from Cumberland County Superior Court (Ebern Watson III, J.) N.C. App. Holding: As has long been recognized by our State Bar Ethics Opinions, if a lawyer who is acting as a trustee for a deed of trust resigns his […]

Jun 16, 2016

Tort/Negligence – Breach of Fiduciary Duty – Joint Venture – Negligent Misrepresentation – Civil Practice – Collateral Estoppel – Bankruptcy

DeGorter v. Capitol Wealth, Inc. (Lawyers Weekly No. 020-040-16, 17 pp.) (Louis Bledsoe III, J.) 2016 NCBC 42 Holding: Plaintiff’s breach of fiduciary duty and constructive fraud claims hinge on his claim that a joint venture existed between him and defendant arising out of a “contribution agreement,” but plaintiff did not enter into the contribution […]

May 5, 2016

Tort/Negligence – Breach of Fiduciary Duty Claim – Georgia Law – Corporate Sale – Judgments

Nelson v. Alliance Hospitality Management, LLC (Lawyers Weekly No. 012-096-16, 20 pp.) (Douglas McCullough, J.) Appealed from Wake County Superior Court (James Gale, J.) N.C. App. Holding: Even though O.C.G.A. § 51-12-10 says, “When a tort is committed … the remote damages occasioned thereby become a proper subject for the consideration of the jury,” Georgia […]

Mar 14, 2016

Tort/Negligence – Breach of Fiduciary Duty – LLC Members – Breach of Contract – Capital Call

Fiske v. Kieffer (Lawyers Weekly No. 020-023-16, 12 pp.) (Gregory McGuire, J.) 2016 NCBC 22 Holding: The holder of a majority interest who exercises control over a limited liability company owes a fiduciary duty to minority interest owners. However, minority interest owners who combine to make decisions opposed by a 40 percent-interest owner do not […]

Jan 18, 2016

Corporate – LLC – Tort/Negligence – Breach of Fiduciary Duty – Usurped Opportunity – Covenant Not to Compete – Surgery Center

SCA-Blue Ridge, LLC v. WakeMed (Lawyers Weekly No. 020-004-16, 18 pp.) (Gregory McGuire, J.) 2016 NCBC 2 Holding: Although the plaintiff-limited liability company’s operating agreement alters certain fiduciary duties the defendant-majority member might ordinarily owe the plaintiff-minority member, plaintiffs’ claim that defendant usurped a corporate opportunity is sufficient to withstand defen[...]

Jul 15, 2015

Tort/Negligence — Breach of Fiduciary Duty – Real Property – HUD Loan – Impact Fee

Shallotte Partners, LLC v. Berkadia Commercial Mortgage, LLC (Lawyers Weekly No. 15-16-0700, 27 pp.) (Mark Davis, J.) Appealed from Mecklenburg County Superior Court (Richard Boner, J.) N.C. App. Unpub. Holding: According to the plaintiff-developer’s complaint, defendant not only acted as a lender, but also dealt with the United States Department of Housing and Urban Development […]

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