ARTRA GROUP, INC. v. SALOMON BROS. HOLDING CO., INC.

No. 2-96-0788.

680 N.E.2d 769 (1997)

288 Ill. App.3d 467

223 Ill.Dec. 819

ARTRA GROUP, INC., Plaintiff-Appellant, v. SALOMON BROTHERS HOLDING COMPANY, INC.; Salomon Brothers, Inc.; Donald P. Kelly; Charles R. Bobrinskoy; James L. Massey; William Rifkind; and Michael J. Zimmerman, Defendants. (D.P. Kelly And Associates, L.P., Defendant-Appellee).

Appellate Court of Illinois, Second District.

May 30, 1997.


Attorney(s) appearing for the Case

Richard M. Bendix, Jr., Bret A. Rappaport, Todd L. Padnos, Schwartz, Cooper, Greenberger & Krauss, Chtd., Chicago, Roger L. Waldman, Moses & Singer, New York City, for Plaintiff-Appellant.

Philip S. Bech, Rhett R. Dennerline, Bartlit, Beck, Herman, Palechar & Scott, Chicago, D.P. Kelly & Associates, James L. Massey, William Rifkind, Salomon Bros. Holding Co., Inc., Salomon Bros., Inc. and Michael J. Zimmerman.


Justice McLAREN delivered the opinion of the court:

The plaintiff, ARTRA Group, Inc., appeals the dismissal of its claim alleging that the defendant, D.P. Kelly and Associates (DPK), breached its fiduciary duty to the plaintiff. The parties were involved in an alleged joint venture for the purpose of performing a leveraged buy out of Envirodyne Industries, Inc. (Envirodyne), along with the other named defendants. However, DPK is the only defendant that is a party...

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