Fiduciary Law Update May 2013

Fiduciary Law Update May 2013


• Court enforces choice-of-law provision and exculpatory clauses in trust instruments and dismisses surcharge claims for failing to diversify AIG stock—In J. P. Morgan Chase Bank, N.A., et al. v. Loutit et al., 2013 N.Y. Misc. LEXIS 452 (N.Y. County Sup. Ct. 2013), the trust beneficiaries attempted to surcharge the co

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