In a case argued by EKLJ partner Mark Elliott involving fiduciary duties, dividend policies, and executive compensation, the Appellate Division, Second Department, affirmed the Surrogate’s Court ruling in favor of EKLJ’s clients. Specifically, the Second Department affirmed the lower court’s ruling that a trustee controlling a corporation breached his duties by failing to cause the corporation to declare adequate dividends. The Court also ruled that the issues were not governed by an arbitration clause in that corporation’s shareholder agreement.