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NEW ENGLAND MERCHANTS NATL. BANK v. OLD COLONY TRUST

385 Mass. 24 (1982)

429 N.E.2d 1143

NEW ENGLAND MERCHANTS NATIONAL BANK OF BOSTON, ADMINISTRATOR, vs. OLD COLONY TRUST COMPANY & others.

Supreme Judicial Court of Massachusetts, Suffolk.

January 8, 1982.

Attorney(s) appearing for the Case

Douglas H. Wilkins (Reginald H. Howe with him) for the plaintiff.

Allan van Gestel for the defendants.

Present: HENNESSEY, C.J., LIACOS, ABRAMS, & NOLAN, JJ.

NOLAN, J.

New England Merchants National Bank of Boston, as administrator of the estate of James Bacon, brought this action in the Superior Court against the trustees of a Massachusetts business trust with transferable shares and their transfer agent Old Colony Trust Company to recover liquidating dividends which the trust declared and paid on its common and preferred shares in 1960 and 1964. The case was submitted on stipulated...

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