Fidelity Federal Savings & Loan Association v. Felicetti U.S. D.Ct. E.D. Pa.,

830 F. Supp. 262 (1993)

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Nature of the Case

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Facts

Fidelity Federal Savings & Loan Association (P) brought an action against Felicetti (D), the former president of P for 13 years, alleging racketeering and breach of fiduciary duty to the corporation. The by-laws of P provide for complete indemnification paid in advance of the final disposition unless a 'final unappealable judgment or award establishes such director or officer engaged in self-dealing, willful misconduct or recklessness.' D promised to repay advances if found not to be entitled to indemnification.