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Text of Ninth Circuit Opinion Denying Surcharge Relief for Benefits Paid in Error (PDF)
U.S. District Court for the District of Minnesota Link to more items from this source
June 9, 2014
"Amara did not suggest that the remedy of surcharge is available to provide any sort of '[m]ake-whole relief for breach of fiduciary duty against a trustee' regardless 'whether or not traditional trust law would have provided that relief under the "surcharge" terminology.' ... We are bound by our own precedent, which correctly identifies surcharge as including only unjust enrichment and losses to the trust estate.... [T]he beneficiary is entitled to restoration of the trust res, not to benefit at the expense of other beneficiaries. Indeed, under traditional trust law principles, a beneficiary could be obliged to repay any payments received in error from the trust." [Gabriel v. Alaska Electrical Pension Fund, No. 12-35458 (9th Cir. June 6, 2014)]

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