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CASHMAN v. PETRIE

14 N.Y.2d 426 (1964)

John A. Cashman, as Sole Surviving Successor Trustee under the Will of Vincent X. McGuire, Deceased, Appellant, v. Paul Petrie, Individually, as a Cotrustee under the Will of Walter L. McGuire, Deceased, and as a Director and Officer of McGuire Bros., Inc., and Another Corporation, et al., Respondents.

Court of Appeals of the State of New York.

Decided July 10, 1964.

Attorney(s) appearing for the Case

Philip G. Reilly for appellant.

William Sondericker and John Logan O'Donnell for respondents.

Judges DYE, FULD, BURKE, SCILEPPI and BERGAN concur with Judge VAN VOORHIS; Chief Judge DESMOND dissents in a separate opinion.

VAN VOORHIS, J.

Plaintiff and defendant are testamentary trustees under different wills, having different income beneficiaries and remaindermen, of different testators who died 15 years apart. During their lifetimes, these decedents operated successfully and harmoniously businesses which they caused to be incorporated in two corporations of which each held 50% of the stock. For convenience the plaintiff trust...

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