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Case Citations (March 2016 through June 2016) [i] (2016)

handle is hein.ali/rettgp2422 and id is 1 raw text is: TRUSTS 3D Generally D.N.J.2015. Cit. generally in sup., cit. generally in cases cit. in ftn. In a case in which trustee of a trust established under investment fund's bankruptcy plan brought fraud and other claims against fund's former directors, this court denied defendants' motion to dismiss for lack of standing based on expiration of the trust, holding that trustee's wind-up powers permitted trustee to prosecute claims against former directors because such claims were trust assets. In making its decision, the court acknowledged that courts in New Jersey and New York routinely relied on the Restatement Third of Trusts for its distillation of trust law. Krys v. Aaron, 106 F.Supp.3d 492, 503. PART 1. NATURE, CHARACTERISTICS, AND TYPES OF TRUSTS CHAPTER 1. DEFINITIONS AND DISTINCTIONS § 1. Scope of This Restatement C.A.9, 2015. Com. (b) quot. in ftn. Retired city firefighter who claimed entitlement to long-term disability benefits under an employee-welfare-benefit plan brought an action under ERISA against plan's manager, alleging that defendant breached its fiduciary duties by violating ERISA's hold-in-trust requirement, which required all assets of the plan to be held in trust by one or more trustees. The district court granted summary judgment for defendant on plaintiff s claim that defendant failed to hold plan assets in trust. Affirming that portion of the decision, this court held that the plan instrument required defendant to hold legal title to all of the plan's assets on behalf of plan participants; thus, the plan instrument created a trust under the definitions set forth in Restatement Third of Trusts §§ 1, 2, and 3, because it established a fiduciary relationship between defendant, as trustee, and participants, as beneficiaries, with respect to the plan assets, or the trust res. Barboza v.California Ass'n of Professional Firefighters, 799 F.3d 1257, 1265. § 2. Definition of Trust C.A.7, 2015. Com. (b) quot. in sup. Borrower filed a proposed class action against mortgage lender, alleging that lender breached its fiduciary duty to borrower by using the payout from his homeowners' insurance policy to pay down his loan rather than to repair his damaged house. The district court granted lender's motion to dismiss. While reversing in part on other grounds, this court affirmed the district court's conclusion that borrower's allegations of a fiduciary relationship were inadequate as a matter of law. The court pointed out that, under Restatement Third of Trusts § 2, a person in a fiduciary relationship to another was under a duty to act for the benefit of the other as to matters within the scope of the relationship, and that nothing in the parties' mortgage agreement indicated that lender had A L l For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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