Namik et al v. Wachovia Bank of Georgia
Apr 14, 2005OUTCOME: Judgment reversed - Appellant prevailed
Namik prevailed at trial in a breach of fiduciary duty case against Wachovia Bank as trustee. The Georgia Court of Appeals reversed. Namik's application for certiorari to the Georgia Supreme Court was ... granted and the Supreme Court reversed the Court of Appeals ultimately holding in favor of the Plaintiff, Namik. The appeal concerns the performance by Wachovia Bank of its duties as trustee of a revocable trust as it invested $2,650,000 of trust fund money in a manner that unnecessarily exposed the corpus of the trust to $1,500,000 in estate taxes and which investment was contrary to Namik's instructions.
