Wood v. U.S. Bank, N.A. , 160 Ohio App.3d 831, 828 N.E.2d 1072, 2005-Ohio-2341 (Ohio App. 1 Dist. May 13, 2005)
Suppose you are a bank officer and one of your large shareholders wants to appoint you as corporate trustee …
Trustees In Hot Water
Corporate Trustee under Fire: Failure to Diversify J.M. Smucker Company Stock Holdings
By Juan C. Antúnez on
Posted in Trustees In Hot Water
This recent failure-to-diversify case out of Ohio underscores the trustee-liability issues I wrote about here regarding the recent appellate-court reversal of a $24 million judgment against Chase Manhattan in New York. In both cases the bank’s liability (or lack thereof) …
Corporate Trustee under Fire: Failure to Diversify Kodak Stock Holdings
By Juan C. Antúnez on
Posted in Trustees In Hot Water
$24,076,937.31 Judgment v. Chase Manhattan Bank Reversed on Appeal
It is not unusual for the family wealth to be the product of one or two extremely successful investments or stock holdings. In those cases any testamentary trusts created by the …
Trustees Targets of Multimillion Dollar Lawsuits
By Juan C. Antúnez on
Posted in Trustees In Hot Water
$1.1 Million Judgment Against Wachovia Bank of Georgia for Exposing Assets of NRA to U.S. Estate Tax Upheld on Appeal
By Juan C. Antúnez on
Posted in Trustees In Hot Water
Iraqi Heir Loses Half of Estate, Blames Bank After years of litigation, plus an appeal to Georgia’s Supreme Court (see Namik v. Wachovia Bank of Ga., 612 S.E.2d 270 (Ga. S. Ct. 2005), the Court of Appeals in …