Ex-WMI Exec Wins New Trial In Credit Agreement Spat

Law360, New York (March 29, 2010, 3:41 PM EDT) -- Maine's top court has granted a new trial to the former president of WahlcoMetroflex Inc., which makes industrial dampeners and expansion joints, in the company's lawsuit accusing him of breach of contract and fiduciary duty for failing to abide by a credit agreement with a lender.

The Maine Supreme Judicial Court issued the ruling Thursday, saying Alexander Baldwin deserved a new trial because a lower court erred in instructing the jury on the fiduciary duty of care.

The company accused Baldwin of breach of fiduciary duty,...
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