Legal Opinion
In re the Judicial Settlement of the Accounts of First Trust & Deposit Co.
Appellate Division of the Supreme Court of the State of New York
Decided June 26, 1935PublishedCited by 9 opinions
1Per curiam
The will of the testator contained the following provision: “ I direct that my stock in the First Trust and Deposit Company be held and divided among the trusts hereby created, and not disposed of until it becomes necessary to do so, in order to settle my estate.”
We concur in the surrogate’s determination that the record does not permit a finding that the trustee — in retaining its own stock as a trust investment pursuant to the direct mandate of the will —■ was guilty of negligence or of any dereliction of duty whereby it should be held in damages. However, we find that certain surcharges…
2Cases cited5 opinions
- In Re the Accounting of First Trust & Deposit Co.New York Court of Appeals · 1932
- In re the Judicial Settlement of the Accounts of First Trust & Deposit Co.Appellate Division of the Supreme Court of the State of New York · 1931
- In re the Judicial Settlement of the Accounts of FarrellAppellate Division of the Supreme Court of the State of New York · 1909
- In Re the Accounting of FarrellNew York Court of Appeals · 1910
- In re the Estate of FarrellNew York Surrogate's Court · 1933
3Cited by9 opinions
- In re the Accounting of HubbellNew York Court of Appeals · 1951
- President and Directors of Manhattan Co. v. KelbyCourt of Appeals for the Second Circuit · 1945
- In re the Estate of DalsimerNew York Surrogate's Court · 1936
- In re the Judicial Settlement of the Final Account of Proceedings of City Bank Farmers Trust Co.Appellate Division of the Supreme Court of the State of New York · 1937
- In re the Accounting of Title Guarantee & Trust Co.New York Surrogate's Court · 1940
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