MATTER OF BALSAM


58 Misc.2d 672 (1968)

In the Matter of the Indenture of Trust Made by Aldo R. Balsam. In the Matter of The Estate of Aldo R. Balsam, Deceased.

Supreme Court, Richmond County.

December 12, 1968


Attorney(s) appearing for the Case

Patterson, Belknap & Webb for petitioners. Turk, Marsh, Kelly & Hoare for income beneficiaries. Myron Beldock, Harold L. Fisher and J. Joyce Klinger, special guardians for remaindermen. Webster, Sheffield, Fleischmann, Hitchcock & Brookfield for Frances B. Schieffelin, settlor's widow.


JOHN J. KELLY, J.

In two of three consolidated proceedings, the petitioners, trustees under two indentures of inter vivos trusts, seek judicial settlement of their accounts and construction of certain provisions of the trusts. Specifically, as holders of shares of stock of a regulated investment company (sometimes called a "mutual fund"), they seek instructions whether, within the purview of the provisions...

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