November 12, 2014
On April 27, 2011, Schlam Stone & Dolan partner David J. Katz participated in an oral argument before the New York Court of Appeals, the state's highest court. The case is likely to redefine and clarify a significant issue in business law: the circumstances under which a fiduciary can void, on public policy grounds, a general release executed in favor of said fiduciary. In this case, Mr. Katz argued, the fiduciary failed to comply with his duty of disclosure prior to the execution of the release, and that voids the release. This is an issue that has divided New York's lower courts and that will have significant ramifications for the enforceability of settlements executed by New York fiduciaries. To view the twenty-minute oral argument, click the hyperlink below.
Coverage of the case can be found here: