Wachovia Bank of Ga. v. Namik

In these cases, we are asked to decide whether Wachovia Bank of Georgia breached its fiduciary duties as trustee by causing an estate to pay what the estate contends were unnecessary and avoidable estate taxes. Following a bench trial, the trial court found in favor of the Bank on counts alleging breach of fiduciary duty as administrator, self-dealing as trustee, stubborn litigiousness, tort, and punitive damages. The trial court found in favor of Issam Namik, Suzan Namik, Jinan Namik, Sundus Namik, and Hadia Mahmoud collectively “Namik” on counts alleging breach of fiduciary duty as trustee for failure to avoid estate taxes and breach of fiduciary duty and breach of contract for failure to invest the trust funds in accordance with alleged instructions. The trial court awarded damages of $1,118,710 to Namik. In Case Number A03A2198, the Bank appeals the trial court’s final order awarding damages to Namik. In Case Number A03A2199, Namik appeals the trial court’s final order, contending he was entitled to greater damages. In Wachovia Bank of Georgia v. Namik ,1 we concluded in Case Number A03A2198 that the trial court erred in finding the Bank liable for breach of fiduciary duty and breach of contract. The Supreme Court reversed this judgment in Namik v. Wachovia Bank of Georgia .2 We therefore vacate our judgment in Case Number A03A2198 and make the judgment of the Georgia Supreme Court the judgment of this Court. Given the reversal, we must now address the contentions alleged by Namik in Case No. A03A2199 in light of the Supreme Court’s opinion.

A03A2199