Occidental Petroleum Corporation v. Wells Fargo Bank, N.A.

IN THE UNITED STATES DISTRICT COURT November 30, 2021 FOR THE SOUTHERN DISTRICT OF TEXAS Nathan Ochsner, Clerk HOUSTON DIVISION OCCIDENTAL PETROLEUM CORP., § § Plaintiff, § § VS. § CIVIL ACTION NO. H-21-1126 § WELLS FARGO BANK, N.A., § § Defendant. § MEMORANDUM OPINION AND ORDER This case presents a number of questions. The first question the parties ask the court to address is whether, under their agreement, the defendant owed a fiduciary duty to the plaintiff. The agreement the parties entered is known as a rabbi trust because the first such agreement involved a rabbi. The agreement has…