Hawking v. Ford Motor Credit Co.
Court of Appeals for the Fifth Circuit
1Opinion of the Court
WIENER, Circuit Judge:
At the core of this appeal is the question whether Appellee-Cross Appellant Ford Motor Credit Corporation (“FMCC”), a commercial lender, can be held liable for the alleged fiduciary breach of a trustee who, purporting to act in his capacity as trustee, took out a loan on behalf of the trusts under his control, and then allegedly used the loan proceeds to satisfy his personal debts. We conclude that Appellant-Cross Appellee Consolidated Lewis Investment Corporation — Limited Partnership (“CLIC-LP”), a Louisiana partnership in comendam that was formed to manage the trusts’…
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