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PENNSYLVANIA COMPANY v. WILMINGTON TRUST COMPANY

189 A.2d 679 (1963)

PENNSYLVANIA COMPANY, a corporation of the Commonwealth of Pennsylvania, Plaintiff, v. WILMINGTON TRUST COMPANY, a corporation of the State of Delaware, and J. Russel Coulter, Trustees under the Will of George P. McNear, Jr., deceased, Defendants-Third-Party Plaintiffs, v. Elizabeth M. McNEAR et al., Third-Party Defendants.

Court of Chancery of Delaware, New Castle.

March 1, 1963.

Attorney(s) appearing for the Case

John J. Morris, Jr., of Morris, James, Hitchens & Williams, Wilmington, for plaintiff.

Aaron Finger and Robert H. Richards, Jr., of Richards, Layton & Finger and William S. Potter and James L. Latchum, of Berl, Potter & Anderson, Wilmington, for defendant, Wilmington Trust Co., Trustee.

H. James Conaway, Jr., of Morford, Young & Conaway, Wilmington, and Philip W. Tone, of Thompson, Raymond, Mayer & Jenner, Chicago, Ill., for defendant, J. Russel Coulter, successor trustee.

Clair John Killoran and E. Dickinson Griffenberg, Jr., of Killoran & VanBrunt, Wilmington, and Stuart S. Ball, Richard J. Flynn and James G. Archer of Sidley, Austin, Burgess & Smith, Chicago, Ill., for adult third-party defendants.

David Snellenberg, II, of Killoran & VanBrunt, Wilmington, Guardian ad litem for minor third-party defendants.

SEITZ, Chancellor.

This is the decision, after submission of briefs by the parties, on the form of order to be entered in this case. In its opinion on the merits this court said, "The Trust Company must bear the burden of a surcharge in an appropriate amount because of its failure to act at an earlier time when it could admittedly have escaped any claim of liability by Pennsylvania based on the April 15 agreements."

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