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COUNTY OF ESSEX v. FIRST UNION NATIONAL BANK

891 A.2d 600 (2006)

186 N.J. 46

COUNTY OF ESSEX, Plaintiff-Respondent and Cross-Appellant, v. FIRST UNION NATIONAL BANK, Successor in Interest to First Fidelity Securities Group, Defendant-Appellant and Cross-Respondent, and Joseph Galluzzi, Lorraine Galluzzi and George L. Tuttle, Jr., Defendants.

Supreme Court of New Jersey.

Decided January 26, 2006.

Attorney(s) appearing for the Case

Dennis T. Kearney, Florham Park, argued the cause for appellant and cross-respondent (Pitney Hardin, Morristown, attorneys).

Patrick T. Collins, Livingston, argued the cause for respondent and cross-appellant (Franzblau Dratch, attorneys).

Justice WALLACE, JR. delivered the opinion of the Court.

The primary issues in this appeal are whether claims for unjust enrichment/disgorgement survive when there is a valid contract, and if so, when an employee of a commercial bank bribes a public official to obtain underwriting privileges on three bond issues, whether the bank must disgorge that part of the fee paid to innocent third parties. We hold that under the circumstances presented, disgorgement is an appropriate...

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