Ficus Investments, Inc. v. Private Capital Mgt., LLC – Case Brief Summary (New York)

In Ficus Investments, Inc. v. Private Capital Mgt., LLC (63 AD3d 611, 611-12, 882 N.Y.S.2d 404 [1st Dept 2009], the court noted that the invoices for fees submitted by three law firms who also represented other defendants not entitled to advancement of fees "had been reduced, pursuant to stipulation, to eliminate expenses either attributable to other defendants or not incurred because of Donovan's the indemnitee's having been an officer of the company" (Id.).

On this basis, the court held that "the evidence was uncontroverted that the remaining expenses reflected legal work that was performed by the three law firms for Donovan's benefit and would have been performed regardless of whether the firms also represented the other defendants" (Id.).