Court Approves Indemnification For Trustees of Private Foundation

Directors may be protected despite having started suit that prompted counter charges of breach of duties

Former trustees of a private foundation are entitled to indemnification for their legal fees in defending a suit for breach of fiduciary duty, the federal District Court in the District of Columbia has held, despite the fact that the suit was prompted as a type of counterclaim to their own lawsuit to protect their interest in foundation property. ( Armenian Assembly of America v. Cafesjian, D. D.C., No. 07-1259, 08-1254, 2/20/13 .)

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Court Approves Indemnification For Trustees of Private Foundation

Court Approves Indemnification For Trustees of Private Foundation