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Corporations Keyed to Rhee
Acorn v. Moncecchi
Citation:
386 P.3d 739 (Wyo. 2016)Facts
Bud Federer and Margie Federe amassed a sizable estate, predominantly comprised of apartment complexes throughout Wyoming. The Federers formed entities to manage their holdings. Spartan was formed in 1972 to manage these apartment complexes. In 1993, Bud hired Dino Moncecchi to work for Spartan. One claim in the litigation was that Dino breached his fiduciary duty to other members of FHC. FHC argued that Dino should have solicited competitive bids for the management of the apartment complexes, and that Spartan should not have retained HUD incentive payments or operated the laundry facilities in the apartment complexes for its sole benefit.
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