American Bridge Trustee Can Go After Ex-Receiver

Law360, New York (March 11, 2010, 5:41 PM EST) -- The trustee for American Bridge Products Inc. will be able to pursue nearly $380,000 in breach of fiduciary duty claims against the company's former court-appointed receiver following an appeals court ruling that the claims were not time-barred.

A three-judge panel of the U.S. Court of Appeals for the First Circuit ruled that because the former receiver, Nicholas J. Decoulos, still has not provided a final accounting for the asset sales he engaged in during his tenure, American Bridge trustee Lynne F. Riley can pursue her claims....
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