Indemnification – Remedial Order

By: Derek Hawkins//July 26, 2016//

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7^th Circuit Court of Appeals

Case Name: Carol Chesemore, et al v. David B. Fenkell et al

Case No.: 14-3181; 14-3215; 15-3740

Officials: KANNE and SYKES, Circuit Judges, and ELLIS, District Judge

Focus: Indemnification – Remedial Order

Appellant challenge to remedial order is without merit, order to indemnify cofiduciaries is upheld.

“Fenkell hasn’t given us any argument that wasn’t already addressed in Free and resolved against his position. And overruling circuit precedent simply to move from one side of a circuit split to the other is disfavored. Buchmeier v. United States, 581 F.3d 561, 566 (7th Cir. 2009). Moreover, we’re not convinced that Free was wrongly decided. If we are to interpret ERISA according to the background principles of trust law—as the Supreme Court has repeatedly instructed us to do—then indemnification and contribution are available equitable remedies under the statute.”

Affirmed

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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