Suburban Motors of Grafton, Inc. v. Forester

The estate of John G. Lange appeals from an order and judgment of the circuit court which imposed a constructive trust upon certain real estate owned by Lange’s estate.

The order was premised upon the trial court’s conclusion that Lange, as a member of the board of directors of Suburban Motors of Grafton, Inc. (Suburban), had breached his fiduciary duty to Suburban by failing to exercise a corporate opportunity; namely, Lange failed to exercise an option that he had granted to Suburban for the purchase of the real estate upon which Suburban conducted its motor vehicle dealership business. The…