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LNC INV., INC. v. FIRST FIDELITY BANK, NAT. ASS'N

No. 92 Civ. 7584 (MBM).

935 F.Supp. 1333 (1996)

LNC INVESTMENTS, INC. and Charter National Life Insurance Company, Plaintiffs, v. FIRST FIDELITY BANK, NATIONAL ASSOCIATION, New Jersey, United Jersey Bank, National Westminster Bank, N.J., Riker, Danzig, Scherer, Hyland & Perretti and Clapp & Eisenberg, Defendants.

United States District Court, S.D. New York.

August 1, 1996.

Attorney(s) appearing for the Case

Seth T. Taube, McCarter & English, New York City, for First Fidelity Bank, N.A.

Robert C. Myers, Heather K. McDevitt, Dewey Ballantine, New York City, for Shawmut Bank Connecticut, N.A.

Mitchell A. Karlan, Gibson, Dunn & Crutcher, New York City, pro se.

OPINION AND ORDER

MUKASEY, District Judge.

Plaintiffs LNC Investments, Inc. and Charter National Life Insurance Company invested in an equipment trust (the "Trust") established by defendant First Fidelity with Eastern Airlines in 1986. Plaintiffs have sued several trustees for violation of the Trust Indenture Act's ("TIA") prudent person requirement, breach of the Indenture's prudent person requirement, and breach of fiduciary duties under the Indenture...

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