In re the Accounting of Gillies

Appellate Division of the Supreme Court of New York

In re the Accounting of Gillies

279 A.D. 1132, 112 N.Y.S.2d 581, 1952 N.Y. App. Div. LEXIS 6060

CourtAppellate Division of the Supreme Court of the State of New York

DecidedMay 7, 1952

StatusPublished

This text of 279 A.D. 1132 (In re the Accounting of Gillies) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In re the Accounting of Gillies, 279 A.D. 1132, 112 N.Y.S.2d 581, 1952 N.Y. App. Div. LEXIS 6060 (N.Y. Ct. App. 1952).

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Opinion

Memorandum: Although, in our opinion, the record proofs are sufficient to sustain the order vacating the 1945 decree settling the intermediate account of the trustees, we think that the authority given the trustees by testator’s will “ to retain unsold any stocks, bonds or securities” expressly authorized the retention by the [1133]*1133trustees of the shares of stock of the corporate trustee owned by the testator. (See Matter of Ridings, 297 N. Y. 417.) Even so, the trustees will be subject to surcharge if such retention is found to have been improper on other grounds. (See Matter of Hubbell, 302 N. Y. 246.) All concur. (Appeal from an order granting petitioner’s application to vacate and open a decree judicially settling the intermediate account of trustees.) Present — Taylor, P. J., McCurn, Kim-ball, Piper and Wheeler, JJ. [See 280 App. Div. 881.]

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Memorandum: Although, in our opinion, the record proofs are sufficient to sustain the order vacating the 1945 decree settling the intermediate account of the trustees, we think that the authority given the trustees by testator’s will “ to retain unsold any stocks, bonds or securities” expressly authorized the retention by the [1133]*1133trustees of the shares of stock of the corporate trustee owned by the testator. (See Matter of Ridings, 297 N. Y. 417.) Even so, the trustees will be subject to surcharge if such retention is found to have been improper on other grounds. (See Matter of Hubbell, 302 N. Y. 246.) All concur. (Appeal from an order granting petitioner’s application to vacate and open a decree judicially settling the intermediate account of trustees.) Present — Taylor, P. J., McCurn, Kim-ball, Piper and Wheeler, JJ. [See 280 App. Div. 881.]

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Bluebook (online)

279 A.D. 1132, 112 N.Y.S.2d 581, 1952 N.Y. App. Div. LEXIS 6060, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-the-accounting-of-gillies-nyappdiv-1952.

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