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Adelberg Rudow attorney Geoffrey Washington discusses the Maryland Court of Appeals significant new ruling which is likely to impact those with businesses and others in fiduciary relationships
The Maryland Court of Appeals has issued a significant new case, Plank v. Cherneski, No. 3, SEPT. TERM, 2019, 2020 WL 3967980, at *1 (Md. July 14, 2020), likely to impact those with businesses and others in fiduciary relationships for years to come. The consequences of this decision may have serious implications for your business and/or your personal interests.
It is an unfortunate reality that every relationship eventually reaches its conclusion. In business, the conclusion to those relationships frequently is messy, filled with recriminations, acrimony, and litigation. This is also seen in the context of family legacies and other fiduciary relationships. For years in Maryland, there has been a cloud over the question of whether those to whom fiduciary duties are owed have recourse on account of those duties. The answer to that question, for those owed such duties, was frequently unsatisfactory as potential damages may be limited by powerful contractual terms limiting potential recourse. The Maryland Court of Appeals has now given life to such claims.
The attorneys at Adelberg Rudow have successfully represented clients having such issues for over 90 years. Whether you are a person who is owed such duties or a person owing such duties, now more than ever it will be important to have counsel to successful navigate such claims and protect your interests. Should you desire more information about this topic or need counsel yourself, please contact Geoffrey Washington (firstname.lastname@example.org) for consultation.
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