Sangwoo Ahn v. Malvasio
Opinion of the Court
Judgment, Supreme Court, New York County (Shirley Werner Kornreich, J), entered October 31, 2002, which, after a nonjury trial, awarded plaintiffs damages upon their claim for breach of fiduciary duty, unanimously affirmed, with costs.
The trial testimony overwhelmingly established that plaintiffs and defendant entered into a joint venture to acquire an apartment for their mutual benefit, and that each party contributed to the apartment’s purchase (see Richbell Info. Servs. v Jupiter Partners, 309 AD2d 288, 298 [2003]). Accordingly, the trial court properly found that when defendant sold the apartment without plaintiffs’ consent, and retained the proceeds of the sale for himself, he breached his fiduciary duty to plaintiffs.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.