In Re the Trust Fund Created Under the Terms of the Last Will & Testament of Baumgart
South Dakota Supreme Court
1Opinion of the Court
KERN, Justice.
[¶ 1.] Petitioners — Gloria Loos, Louis Hohn, Evelyn Lang, Virginia Binder, and Gene Loos — filed suit against Robert and Paul Bormann (Trustees). With the exception of Gene Loos, Petitioners are income beneficiaries of a trust created by Joseph Baumgart. The trust is a court supervised trust. Petitioners sought to reopen previous accountings, remove Trustees, and appoint an independent third-party trustee on grounds of fraud, misrepresentation, material omission, self-dealing, trust mismanagement, and other breaches of fiduciary duties. After an evi-dentiary hearing on…
2Cases cited12 opinions
- Meinhard v. SalmonNew York Court of Appeals · 1928
- National Labor Relations Board v. Amax Coal Co.Supreme Court of the United States · 1981
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- Gartner v. TempleSouth Dakota Supreme Court · 2014
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