In Re Estate of Binder

For convenience, in the course of this opinion, the Superintendent of Banks in charge of liquidation of The Guardian Trust Company will be designated as the superintendent and The Guardian Trust Company as the bank.

The Probate Court, in sustaining the exceptions to the accounts of the trustee and of the superintendent, assumed to find not only that the investments in question were unauthorized and void and that the trustee bank should be surcharged with the amount invested in the land trust certificates, but went further and ordered the -superintendent to issue to the successor trustee a…