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Revenue Sharing, Fees, Indemnity and Contribution: Assorted Issues Confronting Fiduciaries
Stephen Rosenberg, The Wagner Law Group [Guidance Overview] Nov. 6, 2008 Excerpt: In the Charters case itself, it is worth noting, and important to practitioners to recognize, that the court was confronted by this issue in a case where the defendant was using indemnification as a counterclaim to ward off a breach of fiduciary duty claim against it by a trustee by trying to pass the liability back to the trustee; it may well be that the court would have reached a different conclusion if presented with a more traditional contribution/indemnification scenario, where the defendant fiduciary was not trying to use the doctrines offensively, but instead simply to spread the liability owed to the plaintiff as a result of fiduciary breaches among all fiduciaries who may have participated in the breach. |
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