Reasonable Basis Required to Sustain Award of Damages for Breach of Fiduciary Duty

Business Valuation Update BVLaw
Legal and Court Case Update
May 10, 1996

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1389 Oil and Gas Field Services, NEC
213112 Support Activities for Oil and Gas Operations
tort
Ben Lomond, Inc. v. Louis Schwartz
915 P.2d 632 (Alaska 1996)
US
State Court
Alaska
Supreme Court
Eastaugh

Summary

The Alaska Supreme Court reversed a damage award for Lomond's breach of fiduciary duty to a joint salvage venture.

See Also

Ben Lomond, Inc. v. Louis Schwartz

Full Text of Court Cases
May 10, 1996

The Alaska Supreme Court reversed a damage award for Lomond's breach of fiduciary duty to a joint salvage venture. The court found Lomond liable for improper charges to the joint venture. The damages were based on Schwartz's accounting records and testim ...