Childs v. National Bank

LARSON, Senior District Judge.

This appeal presents issues that evolve from a rather deeply intertwined control over both a testamentary trust and the corporation partially owned by the trust. A single individual serves as chairman of the board of the trustee bank and member of the bank’s trust committee, chairman of the board of the corporation, and senior partner in the law firm that advises both the trustee and the corporation. The trust beneficiaries claimed in this lawsuit that the trustee and the individual defendants breached their fiduciary duties to the trust. After trial on the…