Conover v. Guarantee Trust Co.

By the bill complainant seeks the removal of defendant Guarantee Trust Company as trustee under a certain instrument of trust, the appointment of a new trustee and an accounting by the trustee so removed; the bill also seeks to fasten upon the trustee, as personal obligations, liability for certain losses which are claimed to have arisen from alleged breaches of trust duties upon the part of the trustee.

The trust was created to enable the Ventnor Syndicate — a real estate corporation which is now insolvent — to issue and sell a series of its bonds. The trust agreement, under date of September…