In re the Trust under the Will of Lane
Court of Chancery of Delaware
Petition by Trustee to Surcharge former Trustees with alleged losses on investment securities. Martin Lane and Huxley Harvey were appointed trustees of the sum of $100,000 by item ten of the will of Jesse Lane, deceased, and performed their duties as such until the death of Huxley Harvey. Thereupon, Martin Lane, the surviving trustee, resigned and the Security Trust and Safe Deposit Company was appointed by the Chancellor trustee under said item ten of the' will.
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Petition by Trustee to Surcharge former Trustees with alleged losses on investment securities. Martin Lane and Huxley Harvey were appointed trustees of the sum of $100,000 by item ten of the will of Jesse Lane, deceased, and performed their duties as such until the death of Huxley Harvey. Thereupon, Martin Lane, the surviving trustee, resigned and the Security Trust and Safe Deposit Company was appointed by the Chancellor trustee under said item ten of the' will. The new trustee refused to accept from the surviving trustee certain investment securities at the prices paid for them by the…
1Opinion of the Court
The Chancellor.
Jesse Lane by his will bequeathed a sum of money to Martin Lane and Huxley Harvey in trust to *123invest the money and pay the interest to the testator’s daughter for life and then to certain other persons. After the death of the testator the trust was accepted by the trustees and they performed the duties of their office until the death of Huxley Harvey. The surviving trustee then filed a petition for leave to be allowed to resign, and this request was granted, a new trustee appointed and the surviving trustee was directed to turn over to the new trustee the trust estate and also…
2Cases cited7 opinions
- Bennett v. PierceMassachusetts Supreme Judicial Court · 1905
- Stewart v. Firemen's InsuranceCourt of Appeals of Maryland · 1880
- In re E. T. Kenney Co.District Court, D. Indiana · 1905
- Hunter v. RobbinsU.S. Circuit Court for the District of Eastern Arkansas · 1902
- Kendall v. De ForestCourt of Appeals for the Second Circuit · 1900
2 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Stone v. BaldwinAppellate Court of Illinois · 1952
- In the Matter of the Jeremy Paradise Dynasty Trust and The Andrew Paradise Dynasty TrustCourt of Chancery of Delaware · 2021