RETTY FINANCING, INC. v. MORGAN STANLEY DEAN WITTER & CO.


293 A.D.2d 341 (2002)

740 N.Y.S.2d 198

RETTY FINANCING, INC., Individually and on Behalf of PETER BüTZOW and RISTO K. OVASKA, as Trustees in Bankruptcy for the Estate of JUSSI H. UOTI, Deceased, Appellant, v. MORGAN STANLEY DEAN WITTER & CO., Respondent.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided April 16, 2002.


The motion court properly dismissed plaintiff's breach of contract and negligence causes of action arising out of the transfer of funds out of plaintiff's account at the request of a bankrupt principal, Jussi Uoti. The limitation of liability provision within the parties' contract, providing that defendant would be subject to liability only for gross negligence or willful misconduct in its management of the subject investment fund, was unambiguous and applicable to the instant...

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