Opinion ID: 552196
Heading Depth: 2
Heading Rank: 2

Heading: Snitching

Text: 141 Haralson and RBI claim that Hutton's agreement to sell the S&Ls for Haralson and RBI gave rise to fiduciary duties on Hutton's part. They claim that Hutton breached its brokerage agreement and its fiduciary duties by encouraging government regulators to scrutinize and ultimately take over the S&Ls. But Hutton interacted with regulators to protect its collateral under the Facility Agreement, which provides that neither Haralson nor [RBI] shall make any claim or allegation against or with respect to Hutton ... based on any asserted conflict of interest arising out of [Hutton's broker and secured creditor] relationship[s] to the S&Ls. Thus, pursuant to the Facility Agreement, we affirm the district court's summary dismissal of the breach of brokerage agreement and fiduciary duty claims against Hutton.