Legal Opinion
ADT Operations, Inc. v. Chase Manhattan Bank
New York Supreme Court
Decided June 25, 1997PublishedCited by 9 opinions
1Opinion of the Court
OPINION OF THE COURT
Herman Cahn, J.
The primary question presented in this action, novel in New York and most other jurisdictions, is whether a commercial bank breaches a fiduciary duty by agreeing to finance the hostile takeover of one corporate customer by another. The *961court finds that a bank has no per se obligation to refrain from such participation and that plaintiff has not pleaded the existence of a fiduciary relationship which might give rise to such an obligation. However, the complaint states a claim to the extent it pleads that plaintiff’s — the target customer— confidential,…
2Cases cited13 opinions
- Manufacturers Hanover Trust Company v. Nicholas Yanakas, Charles Buonincontri and Camille BuonincontriCourt of Appeals for the Second Circuit · 1993
- Northeast General Corp. v. Wellington Advertising, Inc.New York Court of Appeals · 1993
- Bank Leumi Trust Co. v. Block 3102 Corp.Appellate Division of the Supreme Court of the State of New York · 1992
- Scott v. Dime Sav. Bank of New York, FSBDistrict Court, S.D. New York · 1995
- P. Chimento Co. v. Banco Popular de Puerto RicoAppellate Division of the Supreme Court of the State of New York · 1994
8 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Sharp International Corp. v. State Street Bank & Trust Co. (In Re Sharp International Corp.)District Court, E.D. New York · 2003
- Frydman & Co. v. Credit Suisse First Boston Corp.Appellate Division of the Supreme Court of the State of New York · 2000
- Dean Witter Reynolds Inc. v. Variable Annuity Life InsuranceCourt of Appeals for the Tenth Circuit · 2004
- Calvin Klein Trademark Trust v. WachnerDistrict Court, S.D. New York · 2000
- Bennice v. Lakeshore Savings & Loan Ass'nAppellate Division of the Supreme Court of the State of New York · 1998
4 more not listed; retrieve them via the Exa API.