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Legal Opinion

In re Bankers Trust Co.

New York Supreme Court

Decided April 17, 1957PublishedCited by 14 opinions

1Opinion of the CourtJoseph A. G-avagan, J.

A trustee under an indenture of trust made in 1919, having received during the past several years a variety of unusual stock dividends upon corporate shares held in the trust, has asked the court in this construction proceeding to determine the proper allocation as between income and principal of these stock distributions.

The following provision appears in the trust indenture: ‘ ‘ All stock dividends and extraordinary cash dividends which shall be received by the trustee hereunder shall be considered by it as wholly income and distributed to the beneficiary or beneficiaries hereunder…

2Cases cited6 opinions

  1. In Re the Accounting of OsborneNew York Court of Appeals · 1913
  2. In Re the Accounting of LloydNew York Court of Appeals · 1944
  3. In re the Will of LissbergerNew York Surrogate's Court · 1946
  4. In re the Estate of SearsNew York Surrogate's Court · 1941
  5. In re the Accounting of Bankers Trust Co.New York Surrogate's Court · 1955

1 more not listed; retrieve them via the Exa API.

3Cited by14 opinions

  1. In re City Bank Farmers Trust Co.New York Court of Appeals · 1958
  2. In re the Indenture of Trust Made by BalsamNew York Supreme Court · 1968
  3. In re the Accounting of Bankers Trust Co.New York Supreme Court · 1958
  4. In re the Intermediate Accounting of Hanover BankNew York Surrogate's Court · 1958
  5. In re the Accounting of Bankers Trust Co.New York Supreme Court · 1962

9 more not listed; retrieve them via the Exa API.

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