11th Circuit Affirms Judgment For Trustee In Fiduciary Duty Row With Asset Manager

Mealey's (December 7, 2022, 2:05 PM EST) -- ATLANTA — The 11th Circuit U.S. Court of Appeals on Dec. 6 affirmed a district court’s order granting summary judgment in favor of a trustee of retained insurance policies in a breach of contract and fiduciary duty suit filed against him by an asset manager owning fractional interests in the retained policies, finding that the asset manager’s relationship with the trustee was an “arms-length contractual relationship” rather than a fiduciary relationship....