Beiny v. Wynyard

Appellate Division of the Supreme Court of New York

Beiny v. Wynyard

133 A.D.2d 37, 518 N.Y.S.2d 767, 1987 N.Y. App. Div. LEXIS 49572

Appellate Division of the Supreme Court of the State of New York·Decided August 20, 1987·Published

Opinion

Order, Surrogate’s Court, New York County (Marie Lambert, S.), entered March 9, 1987, which appointed a temporary receiver and directed the trustee to post a bond of $20 million, modified on the law and facts and in the exercise of discretion, to strike the bond requirement and otherwise affirmed, without costs.

The bond is neither payable upon a stated contingency, nor posted to assure faithful execution by the trustee. (See, Siegel, NY Prac § 206; 2A Weinstein-Korn-Miller, NY Civ Prac ¶ 2501.04.) We find that the Surrogate’s Court erred when it directed the posting of the bond to protect "any future determination” by that court "of ownership of the Swiss assets.” Concur—Sandler, J. P., Ross, Milonas, Kassal and Smith, JJ.

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Order, Surrogate’s Court, New York County (Marie Lambert, S.), entered March 9, 1987, which appointed a temporary receiver and directed the trustee to post a bond of $20 million, modified on the law and facts and in the exercise of discretion, to strike the bond requirement and otherwise affirmed, without costs.

The bond is neither payable upon a stated contingency, nor posted to assure faithful execution by the trustee. (See, Siegel, NY Prac § 206; 2A Weinstein-Korn-Miller, NY Civ Prac ¶ 2501.04.) We find that the Surrogate’s Court erred when it directed the posting of the bond to protect "any future determination” by that court "of ownership of the Swiss assets.” Concur—Sandler, J. P., Ross, Milonas, Kassal and Smith, JJ.

Beiny v. Wynyard, 133 A.D.2d 37, 518 N.Y.S.2d 767, 1987 N.Y. App. Div. LEXIS 49572 (N.Y. Ct. App. 1987).

Pincite

133 A.D.2d 37 (Beiny v. Wynyard) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.