The sole theory underlying plaintiff's breach of fiduciary duty claim, the so-called "trust fund doctrine," under which persons in control of an insolvent corporation must hold the corporation's remaining assets in trust for the benefit of its creditors, cannot be invoked by a "simple contract creditor" like plaintiff, who has not yet obtained a judgment on the debt and had execution returned unsatisfied (Credit Agricole Indosuez v Rossiyskiy Kredit Bank,
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ALDORO, INC. v. GOLD FORCE INTERNATIONAL LTD.
52 A.D.3d 223 (2008)
859 N.Y.S.2d 154
ALDORO, INC., Appellant-Respondent, v. GOLD FORCE INTERNATIONAL LTD., Now Known as GF INT'L HOLDINGS, INC., et al., Respondents, and GARY M. JACOBS et al., Respondents-Appellants, et al., Defendants.
Appellate Division of the Supreme Court of the State of New York, First Department.https://leagle.com/images/logo.png
Decided June 3, 2008.
Decided June 3, 2008.
Appellate Division of the Supreme Court of the State of New York, First Department.
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