Legal Opinion

In re the Intermediate Accounting of Bankers Trust Co.

New York Supreme Court

Decided January 27, 1958Published

1Opinion of the CourtSamuel H. Hofstadter, J.

Incidental to its accounting in this proceeding, the trustee requests instructions with respect to its investment powers under the trust indenture. The investment clause reads: ‘ ‘ The Trustee is hereby authorized and empowered from time to time to invest and reinvest the trust property, with full power of sale in connection therewith, in such securities as it may deem best, provided that before selling any securities held in the trust or purchasing any securities or other property on account of the trust, the trustee shall first secure in writing the approval of the President of Life’s Fresh…

2Cases cited2 opinions

  1. In re the Construction of the Will of JeffressNew York Surrogate's Court · 1950
  2. In re the Accounting of Marine Midland Trust Co.New York Surrogate's Court · 1956

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