Often in business divorce cases, one party will assert that the other party breached fiduciary duties. The defending party may then raise a statute of limitations defense, arguing that the claim is stale and should have been raised earlier. The
Latest from Winstead Business Divorce
Federal Court Dismissed Some But Not All Claims Against Individuals And Entities Arising Out Of Operation Of A Limited Partnership
In Dunn v. Chappelle (In re Alta Mesa Res., Inc.), a bankruptcy trustee sued the officers and directors of a limited partnership and related entities for operating a drilling program despite having lower than expected results. No. 19-35133, 2022 Bankr.
Presentation: Voir Dire (In a Post COVID World)
David Johnson co-authored a paper entitled “Voir Dire (In a Post COVID World)” with Jason Smith of the Law Offices of Jason Smith for the State Bar of Texas’s Business Disputes Course, held in Austin, Texas, on September 15-16,
Employee’s Fiduciary Duty May Not Be Limited To His Or Her Employer
In Trench Tech Int’l, Inc. v. Tech Con Trenching, Inc., the son of an owner of a company, who was an employee, downloaded design plans and other information and went to another company who used that information. No. 4:19-cv-00201-O, 2022
Court Held That Those In Control Of A Limited Liability Company May Owe Fiduciary Duties To The Company And Its Members
In In re Mijares, a plaintiff claimed that a defendant defrauded him and breached fiduciary duties owed to him by charging improper, excessive, and unauthorized expenses to their medical practice, causing the plaintiff’s distributions from the practice to be reduced
Webinar Series: Financial Services – Advising Trustees Who Manage Closely-Held Business Interests
Settlors often place some or all of the ownership in a closely-held business in a trust. A trustee managing a trust with an interest in a closely held business has difficult management issues to address and this often raises disputes.
Presentation: Advising Trustees Who Manage Closely-Held Business Interests
David F. Johnson presented “Advising Trustees Who Manage Closely-Held Business Interest” to the WealthCounsel webinar on June 30, 2022.
Partner Had Capacity To Sue Other Partner For Breach Of Fiduciary Duty
In Power v. Power, one brother sued the other brother for breach of fiduciary duty related to their partnership in real estate investing. No. 05-19-01557-CV, 2022 Tex. App. LEXIS 2926 (Tex. App.—Dallas May 3, 2022, no pet. history). The trial
Texas Supreme Court Holds That A Director Of A Corporation Cannot Hold An Informal Fiduciary Duty To A Stockholder
In In re Estate of Poe, shortly before his death, Dick, who was the sole director of Poe Management, Inc. (PMI), authorized the corporation to issue new shares that he bought for $3.2 million. No. 20-0178, 2022 Tex. LEXIS 544
Suing Attorneys In Texas For Participating in Fiduciary Breaches
It is not uncommon for an attorney to execute all or part of his or her client’s wishes, which may be in breach of a fiduciary duty owed by the client to a third party. The third party can certainly