Tag Archives: fiduciary relationship

Claims by Long-Term Close Friend Proceed Against Faithless Business Partner

A recent Delaware Court of Chancery opinion discussed the nuances of an unusual personal and business relationship, akin to a “familial intimacy”, that formed the basis for the court to conclude that a fiduciary relationship could be proven at trial.  See Bamford v. Penfold, L.P., C.A. No. 2019-0005-JTL (Del. Ch. Feb. 28, 2020). Short Overview: … Continue Reading

Chancery Court Drills Down and Dismisses Breach of Fiduciary Duty Claim in Dispute about Oil and Gas Exploration Investments

Addy v. Piedmonte, et al., Del. Ch., No. 3571-VCP (March 18, 2009), read opinion here. Kevin Brady, a highly respected Wilmington lawyer, prepared the following review of this case: In this Chancery Court decision, Vice Chancellor Parsons dismissed a claim for breach of fiduciary duty in a case with a complex fact pattern involving oil and gas exploration … Continue Reading

Chancery Court Examines Fiduciary Relationships Involving Trust Beneficiaries; Refers to Prodigal Son Parable

In Mitchell v. Reynolds, (Del. Ch., Jan. 7, 2009), read opinion here, the Delaware Chancery Court explains in a 40-page decision the contours and the factually subtle aspects of the analysis employed to determine the existence of a fiduciary relationship, as well as the legal aspects of the duties and rights of both trust beneficiaries and … Continue Reading