In re the Judicial Settlement of the Account of Proceedings of President & Directors of the Manhattan Co.

Appellate Division of the Supreme Court of New York

In re the Judicial Settlement of the Account of Proceedings of President & Directors of the Manhattan Co.

254 A.D. 684, 3 N.Y.S.2d 443, 1938 N.Y. App. Div. LEXIS 7135

Appellate Division of the Supreme Court of the State of New York·Decided April 8, 1938·Published·Cited by 3 cases

Opinion

In a proceeding for the judicial settlement of the account of a testamentary trustee, decree of the Surrogate’s Court, county of Queens, settling the account and dismissing the objections of the remaindermen, modified by striking therefrom commissions and allowances for costs and disbursements granted to the accounting trustee, and by increasing the distributive shares of the remaindermen accordingly. As so modified the decree is unanimously affirmed, with costs to the appellants, to be paid by the respondent personally, and matter remitted to the Surrogate’s Court for the entry of a decree accordingly. While upon this record no surcharge may be made, the manner in which the trust estate was handled demonstrates that the trustee was negligent in the manner in which it performed its duties and forfeited its right to receive any compensation or allowances. Present — Lazansky, P. J., Carswell, Davis, Johnston and Close, JJ.

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In a proceeding for the judicial settlement of the account of a testamentary trustee, decree of the Surrogate’s Court, county of Queens, settling the account and dismissing the objections of the remaindermen, modified by striking therefrom commissions and allowances for costs and disbursements granted to the accounting trustee, and by increasing the distributive shares of the remaindermen accordingly. As so modified the decree is unanimously affirmed, with costs to the appellants, to be paid by the respondent personally, and matter remitted to the Surrogate’s Court for the entry of a decree accordingly. While upon this record no surcharge may be made, the manner in which the trust estate was handled demonstrates that the trustee was negligent in the manner in which it performed its duties and forfeited its right to receive any compensation or allowances. Present — Lazansky, P. J., Carswell, Davis, Johnston and Close, JJ.

In re the Judicial Settlement of the Account of Proceedings of President & Directors of the Manhattan Co., 254 A.D. 684, 3 N.Y.S.2d 443, 1938 N.Y. App. Div. LEXIS 7135 (N.Y. Ct. App. 1938).

Pincite

254 A.D. 684 (In re the Judicial Settlement of the Account of Proceedings of President & Directors of the Manhattan Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Opinion

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