Former Nash Directors’ Motion To Dismiss Chapter 7 Trustee’s Breach Action Denied

(July 18, 2024, 1:23 PM EDT) -- BRIDGEPORT, Conn. — Rejecting arguments that some claims are time-barred because the Chapter 7 trustee for asbestos debtor The Nash Engineering Co. failed to adequately plead his tolling theory of fraudulent concealment and has neither established the existence of a fiduciary relationship nor rebutted the business judgment rule, a federal judge in Connecticut denied three former Nash directors’ motion to dismiss the trustee’s breach of fiduciary duty suit against them....