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GRACE v. GRACE

No. 377, Docket 31975.

394 F.2d 127 (1968)

Michael P. GRACE, II, suing Individually as a Beneficiary under the Last Will and Testament of William R. Grace, Deceased, as a Successor Co-Trustee under a Testamentary Trust created by Clause Sixth of the said Will and as an Executor of the Estate of Joseph P. Grace, Deceased, and on behalf of the Beneficiaries of said Trust and Estate, Plaintiff-Appellant, v. Joseph P. GRACE, Jr., Harold J. Roig, Allen S. Rupley, Eben W. Pyne, Joseph G. Blum and Irving M. Luria, Defendants-Appellees.

United States Court of Appeals Second Circuit.

Decided May 6, 1968.

Attorney(s) appearing for the Case

William S. Downard, Dallas, Tex. (Gustave Simons, Jonathan W. Lubell, Jonathan Weiss, Stephen L. Fine, Marvin Moskowitz, New York City, on the brief), for appellant.

Raymond L. Falls, Jr., New York City (Cahill, Gordon, Sonnett, Reindl & Ohl, Lawrence J. McKay, John R. Vaughan, Loeb, Churchill & Lawther, New York City, of counsel), for appellees Joseph P. Grace, Jr., Harold J. Roig, Allen S. Rupley, and Eben W. Pyne.

Joseph G. Blum, New York City (Blum, Haimoff, Gersen & Szabad, New York City, of counsel), for appellees Joseph G. Blum and Irving M. Luria.

Before MOORE, WOODBURY and SMITH, Circuit Judges.

MOORE, Circuit Judge:

This case is a chapter in an intra-family dispute that has been the subject of much state court litigation. The present controversy stems from the will of William R. Grace, deceased, which set up a trust fund for certain beneficiaries, including Michael P. Grace, II, plaintiff-appellant herein. The sole capital asset of this trust was 8,566 shares (approximately 20%) of the 6% preferred stock of W. R...

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