Another Arrow In The Chapter 11 Trustee's Quiver

Law360, New York (May 16, 2014, 1:09 PM EDT) -- On May 5, 2014, the California Court of Appeal may have issued a game-changing decision in its ruling in American Master Lease LLC v. Idanta Partners Ltd., --- Cal.Rptr.3d ----, Cal.App. (2 Dist., 2014, May 5, 2014), holding that a party (individual or entity) who aids and abets a breach of fiduciary duty may have to disgorge its profits from the transaction, whether or not the disgorgement relates to the actual damages suffered by the plaintiff, under the doctrine of unjust enrichment.

That is, notwithstanding whether the plaintiff suffered a loss, the defendant in this case was ordered to disgorge the...

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