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WILLIAM PENN PARTNERSHIP v. SALIBA

No. 362, 2010.

13 A.3d 749 (2011)

WILLIAM PENN PARTNERSHIP, Robert M. Hoyt, Trustee Under Revocable Trust Agreement of Robert M. Hoyt dated 6/30/93, T. William Lingo, Bryce Lingo, J.G. Townsend, Jr. & Co., Beacon Revex, LLC, and Del Bay Associates, LLC, Defendants Below, Appellants, v. Anis K. SALIBA, Trustee Under Revocable Trust Agreement of Anis K. Saliba dated 6/27/91; and Rosa Ksebe, Trustee Under Revocable Trust Agreement of Kamal Ksebe Dated 5/22/85, Plaintiffs Below, Appellees.

Supreme Court of Delaware.

Decided: February 9, 2011.

Attorney(s) appearing for the Case

Jeffrey M. Weiner , Wilmington, Delaware for appellants.

Peter J. Walsh, Jr. and Tye C. Bell of Potter Anderson & Corroon LLP, Wilmington, Delaware for appellees.

Before STEELE, Chief Justice, BERGER and RIDGELY, Justices.

STEELE, Chief Justice.

William Lingo and Bryce Lingo, through their ownership in the William Penn Partnership, breached their fiduciary duties to the members of Del Bay Associates, LLC when they facilitated the sale of the Beacon Motel, Del Bay's sole asset, under a deceptive and manipulative sales process. The Chancellor awarded Anis Saliba and Rosa Ksebe, members of Del Bay Associates to whom William Penn Partnership owed fiduciary duties, attorneys' fees because...

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