Legal Opinion
Nickel v. Bank of America National Trust & Savings Ass'n
Court of Appeals for the Ninth Circuit
Decided June 19, 2002No. 01-15452PublishedCited by 3 opinions
1Opinion of the Court
OPINION
NOONAN, Circuit Judge.
This appeal presents a single issue: the appropriate remedy under California law for breach of trust by a professional trustee, a profit-making bank. Holding that the appropriate remedy is a proportionate share of the profits the bank made with the misappropriated trust funds, we reverse the judgment of the district court.
FACTS
Security Pacific National Bank (SP) was the trustee for 2,500 or more trusts (the parties are not more precise), for which its compensation was set by contract and could only be increased by consent or by order of the probate court. Nine…
2Cases cited6 opinions
- Hess v. Ford Motor Co.California Supreme Court · 2002
- Title Ins. and Trust Co. v. IngersollCalifornia Supreme Court · 1910
- In re LuxCalifornia Supreme Court · 1893
- Big Bear Properties, Inc. v. GhermanCalifornia Court of Appeal · 1979
- In re estate of LuxCalifornia Supreme Court · 1893
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Nickel v. Bank Of AmericaCourt of Appeals for the Ninth Circuit · 2002
- Todd Rochow v. Life Ins. Co. of North AmericaCourt of Appeals for the Sixth Circuit · 2015
- Todd Rochow v. Life Ins. Co. of North AmericaCourt of Appeals for the Sixth Circuit · 2015