Fernekes v. CMP Industries, Inc.

This suit in equity was instituted by plaintiffs to establish the extent of their respective rights in funds held by defendant, the National Commercial Bank and Trust Company of Albany, as trustee under a “ Salaried Employees’ Retirement and Profit-Sharing Program of Consolidated Metal Products Corporation.” Subsequently by change of its corporate name Consolidated Metal Products Corp., hereinafter referred to as the Company, became CMP Industries, Inc., the appellants herein.

Prior to October 31, 1958 the business of the company was divided into two units, each of which was separately…