NC Fiduciary Litigation Commentary
On November 25, 2025, the North Carolina Business Court issued an important opinion in Estevez v. C&S Commerce, LLC, reaffirming a principle that continues to shape limited liability company (“LLC”) disputes across the state: fiduciary duty waivers in LLC operating agreements are enforceable. The case serves as a pointed reminder that, in North Carolina, LLCs…
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Disputes among LLC members often feel personal—especially when management power shifts, ownership interests are questioned, or a minority member is pushed aside. But a recent North Carolina Supreme Court decision underscores a critical reality: in LLCs, contract almost always comes first. In Gvest Real Estate, LLC v. JS Real Estate Investments, LLC, the Court reaffirmed…
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Starting a business with someone often begins with excitement and trust. You make plans, divide responsibilities, and work toward a shared vision. But when trust breaks down, the damage can be personal and financial. In the case of Friedmann v. Griffin, Terry Friedmann, a thirty percent owner of Oceanic Partners Holdings, LLC, alleged that James…
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Ten years ago, if you asked a kid what they wanted to be when they grew up, they would say something like ‘doctor’ or ‘astronaut.’ If you asked a kid the same question today, chances are they would say ‘influencer.’ Recently, kidfluencing has experienced a surge in popularity. If you’re unfamiliar with the term, kidfluencers…
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In a recent decision from the North Carolina Business Court, Barings LLC v. Fowler, the court shed light on the critical importance of fiduciary duty in business leadership. Barings, a global asset management firm, alleged that Ian Fowler, one of its former officers and managing directors, breached his fiduciary duty by helping orchestrate the mass…
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Fiduciary litigation often arises when those entrusted with managing financial assets fail to act in the best interest of the beneficiaries they serve. A recent case involving Universal Music Group (UMG) and the rock band Limp Bizkit highlights the high stakes of fiduciary responsibilities in the entertainment industry. According to Rolling Stone (via MSN), a…
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A fiduciary duty is a legal obligation to act in the best interests of another person. This duty arises in relationships where one party trusts another to act with honesty and loyalty. These duties can arise by operation of law (de jure) or based on the facts and circumstances of a relationship (de facto). Common…
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In a surprising twist, a toy tycoon is suing an estate agent for allegedly concealing the identity of the buyer for his $79 million mansion. The seller, Leo Kryss, claims he would have demanded a higher price if he had known the buyer was none other than Jeff Bezos, the world’s second-richest person. The property,…
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These days, many financial advisors are promoting themselves as fiduciaries. But what exactly does that mean? And how can it benefit you? What is a fiduciary? A fiduciary is someone who has a legal obligation to act in the best interests of another person. This means that they must put your needs before their own.…
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Famous TV doctor Mehmet Oz—better known as “Dr. Oz”—recently accused his sister, Nazlim, of forging their late father’s will and stealing millions from his estate. A 2008 will left all of Mustafa Oz’s assets to the Mustafa Oz Foundation, a United States organization, and left Dr. Oz in charge of the foundation; however, Nazlim presented a…
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