Court: Company not negligent in trust demise
The 7th Circuit Court of Appeals upheld a magistrate judge’s ruling in favor of a Michigan company on claims that it was negligent in managing an Indiana trust that eventually collapsed. Magistrate Judge John Paul Godich, of the U.S. District Court Southern District of Indiana’s Indianapolis Division, granted summary judgment in favor of Benefit Actuaries on Indiana Funeral Directors Insurance Trust’s claims that Benefit violated its fiduciary duty under ERISA, and negligently failed to provide competent advice while managing the trust.The…