Dunkley v. Peoples Bank & Trust Co.

MEMORANDUM OPINION

H. FRANKLIN WATERS, Chief Judge.

Plaintiff, William A. Dunkley, III, a citizen of Illinois, sued defendant, Peoples Bank & Trust Company, an Arkansas banking corporation with its principal place of business in Arkansas, in relation to certain actions taken by the defendant as trustee under a trust agreement making plaintiff one of the beneficiaries. Plaintiff contends that the trustee made payments of income and principal of the trust to another of the trust beneficiaries, Lawrence W. Ruschke, and that such distributions were not authorized by the controlling trust instrument…