Bass, Berry & Sims attorney Chris Lazarini examined a case of alleged breach of trust and breach of fiduciary duty against a bank acting as the indenture trustee related to a foreclosure action on defaulted mortgage revenue bonds. The trial court granted summary judgment for the bank, which was later affirmed, since under Ohio law, causes of action for breach of trust and breach of fiduciary duty accrue, and the applicable statute of limitations begins to run, when the plaintiff knew or should have known of the alleged breach.
