John Arrastia and Angelo Castaldi are pleased with the Eleventh Circuit Court of Appeals’ recent decision affirming the final summary judgment obtained on all counts in favor of client Barry Mukamal in the case Acheron Portfolio Trust et al. v. Mukamal. This case has been vigorously contested over years with four lawsuits, one arbitration, and five appeals, but this last appeal is ultimately a step toward the right resolution. The Law360 article published on December 7, 2022, covers recent developments in the case.
The Eleventh Circuit agreed with Mukamal and his legal team, which includes partner David Rosendorf from the law firm of Kozyak Tropin and Throckmorton, ruling that “he did not breach a contract or his fiduciary duties to the plaintiff Acheron Trusts.” In affirming the trial court’s decision, the appellate court determined, “we reject Acheron’s efforts to elevate its contractual relationship with the trustee to that of a fiduciary relationship.”
This last appeal disposes of all pending litigation and appeals between these parties, pending the Trustee’s stated intent to wind down the trust.
Read the full article here.