Probate and Trusts
Breach of Duty
Misuse of Funds
Susan Foppiano Valera v. Louis M. Foppiano
Published: Nov. 17, 2012 | Result Date: Dec. 22, 2011 | Filing Date: Jan. 1, 1900 |Settlement – Equitable Settlement
Facts
Susan Valera filed suit against her brother, Louis Foppiano, in a dispute over the Foppiano Vineyard's family trust. Valera attempted to remove Foppinano as a co-trustee, arguing that he neglected the family business by taking trust-backed loans used in part for executive bonuses.
Foppiano denied misuse of funds, claiming that he was carrying out a plan to upgrade the business.
Result
The parties settled. Both siblings agreed to step down as co-trustees and allow the court to appoint an independent third party with wine industry experience.
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