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Court Of Chancery Permits Suit For Trustee To Proceed

Posted In Fiduciary Duty

Zutrau v. Jansing, C.A. 7457-VCP (March 18, 2013)

This decision permits a suit to proceed that seeks the appointment of a trustee for a solvent corporation based on allegations of breach of fiduciary duty.  That may be particularly unusual for prior decisions have required that there be a prior adjudication of a serious breach of duty before an action seeking a trustee might be filed. Perhaps here the gross breaches of duty alleged were enough to convince the Court to let the action go to trial.

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