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MATTER OF BANK OF NEW YORK

280 A.D. 857 (1952)

In the Matter of Bank of New York (formerly Bank of New York and Trust Company), as Trustee under an Agreement wherein Edwin L. Coyle and Another Are Named as Settlors Peter B. Nelson et al., Plaintiffs, v. Bank of New York, as Trustee under an Agreement with Edwin L. Coyle and Another, as Settlors, et al., Defendants Peter B. Nelson et al., Appellants; Bank of New York and Trust Company, as Trustee, et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

July 1, 1952.

Per Curiam.

The Referee erred in holding there was one settlor; there were two settlors to the trust, and as to creditors the trust was void under section 34 of the Personal Property Law. On this record, it was also established that the intention of the settlors was to create a trust for the sole benefit of the settlors who have the right to revoke under section 23 of the Personal Property Law.

The final order and judgment appealed from should be modified...

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