U.S. TRUST CO. OF NEW YORK v. STATE


69 N.J. 253 (1976)

353 A.2d 514

UNITED STATES TRUST COMPANY OF NEW YORK, AS TRUSTEE FOR THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY CONSOLIDATED BONDS, FORTIETH AND FORTY-FIRST SERIES; ON ITS OWN BEHALF AND ON BEHALF OF ALL HOLDERS OF CONSOLIDATED BONDS OF THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY AND ALL OTHERS SIMILARLY SITUATED, PLAINTIFF-APPELLANT-CROSS-RESPONDENT, v. THE STATE OF NEW JERSEY; BRENDAN T. BYRNE, GOVERNOR OF THE STATE OF NEW JERSEY; AND WILLIAM F. HYLAND, ATTORNEY GENERAL OF THE STATE OF NEW JERSEY, DEFENDANTS-RESPONDENTS-CROSS-APPELLANTS. DANIEL M. GABY, PLAINTIFF-CROSS-APPELLANT, v. THE PORT OF NEW YORK AUTHORITY, JAMES C. KELLOGG, III, HOYT AMMIDON, GUSTAVE L. LEVY, JAMES G. HELLMUTH, ANDREW C. AXTELL, WILLIAM J. RONAN, W. PAUL STILLMAN, WALTER H. JONES, BERNARD J. LASKER, PHILIP B. HOFFMAN, AND JERRY FINKELSTEIN, COMMISSIONERS OF THE PORT OF NEW YORK AUTHORITY, AUSTIN J. TOBIN, EXECUTIVE DIRECTOR OF THE PORT OF NEW YORK AUTHORITY, AND WILLIAM T. CAHILL, GOVERNOR OF THE STATE OF NEW JERSEY, DEFENDANTS-CROSS-RESPONDENTS, AND UNITED STATES TRUST COMPANY OF NEW YORK, ETC., INTERVENOR.

The Supreme Court of New Jersey.

Decided February 25, 1976.

Appeal Dismissed June 28, 1976.

Probable Jurisdiction Noted June 28, 1976.


Attorney(s) appearing for the Case

Mr. Robert B. Meyner and Mr. Devereux Milburn, of the New York bar, argued the cause for appellant-cross-respondent-intervenor United States Trust Company (Messrs. Meyner, Landis and Verdon, and Messrs. Carter, Ledyard and Milburn and Hawkins, Delafield and Wood, of the New York bar, attorneys; Mr. Meyner, Mr. Milburn, and Mr. Donald J. Robinson, of the New York bar, on the brief and of counsel).

Mr. Murray J. Laulicht and Mr. Michael I. Sovern, of the New York bar, Special Counsel to the Attorney General, argued the cause for respondents-cross-appellants State of New Jersey, Brendan T. Byrne and William F. Hyland (Mr. William F. Hyland, Attorney General of New Jersey, attorney; Mr. Laulicht, Mr. Sovern and Mr. Harold Edgar, of the New York bar, Special Counsel to the Attorney General, on the brief).

Mr. Howard Stern argued the cause for plaintiff-cross-appellant Daniel M. Gaby (Messrs. Shavick, Stern, Schotz, Steiger and Croland, attorneys; Mr. Stern on the brief, Mr. Stern and Mr. Theodore W. Kheel of the New York bar and Messrs. Battle, Fowler, Stokes and Kheel of the New York bar, of counsel).

Mr. Francis A. Mulhern argued the cause for cross-respondent The Port Authority of New York and New Jersey, et al. (Mr. Mulhern, attorney and on the brief; Mr. Patrick J. Falvey of the New York bar, Mr. Joseph Lesser of the New York bar, Ms. Isobel E. Muirhead, Mr. Arthur P. Berg of the New York bar, and Mr. Vigdor D. Bernstein, of counsel).


Appeal Dismissed June 28, 1976. See 96 S.Ct. 3185.

Probable Jurisdiction Noted June 28, 1976. See 96 S.Ct. 3188.

PER CURIAM.

The judgment is affirmed, substantially for the reasons set forth in the opinion of Judge Gelman, 134 N.J.Super. 124 (Law Div. 1975). The observations which follow are occasioned by Justice Pashman's suggested remedy in the Gaby suit.1

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