Is A Trustee’s Lawyer Required To Advise His Client Not To Breach Fiduciary Duties?

October 10, 2011

by: Luke Lantta

Somewhere Kirby E. Cole sits in prison, having plead guilty to mail fraud.  As trustee for the Phillips Foundation, Cole breached his fiduciary duties to the Foundation by fraudulently transferring Foundation property and mineral rights for free to himself.  So, Cole did what any imprisoned former trustee would do – he sued his lawyer.

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