MULLIGAN, Circuit Judge:
Since 1961, the Chase Manhattan Bank (National Association) (Chase) has been the trustee of the assets of an employee pension benefit plan — the Pension Plan for Wage Employees of Federal Sweets and Biscuit Company, Inc. Chase was obligated to invest the corpus and to make distributions periodically at the direction of a Pension Board designated by the employer. The employer, Federal Sweets and Biscuit Company, was adjudicated a bankrupt...
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