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FIRST NATL. BK. v. NEW ENG. MERCHANTS NAT'L BK

10 Mass. App. Ct. 715 (1980)

412 N.E.2d 889

THE FIRST NATIONAL BANK OF BOSTON, conservator, vs. CHARLES F. HOVEY & others, trustees; NEW ENGLAND MERCHANTS NATIONAL BANK & another, third-party defendants; FREDERICK E. MARKUS & another, fourth-party defendants (and two companion cases).

Appeals Court of Massachusetts, Suffolk.

November 21, 1980.

Attorney(s) appearing for the Case

Allan van Gestel for the Massachusetts Investors Growth Stock Fund, Inc., & others.

Robert J. Muldoon, Jr. (Thomas J. Urbelis with him) for The First National Bank of Boston & others.

William Shields, III, for the trustees of Northeast Investors Trust.

Present: GREANEY, ROSE, & PERRETTA, JJ.

ROSE, J.

The First National Bank of Boston, as conservator of Frederick Markus's property, brought an action against the trustees of the Northeast Investors Trust (hereinafter NIT) following allegedly wrongful transfers and liquidation of stock originally held by Frederick Markus to Philip Markus, Frederick's son. Similar actions were brought by the First National Bank and other trustees of the Paula Anna Markus Foundation (hereinafter the Foundation) against the...

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