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Court Approves Indemnification For Trustees of Private Foundation

Court Approves Indemnification For Trustees of Private Foundation

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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