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BECK v. MFRS.

125 Misc.2d 771 (1984)

Hubert P. Beck et al., Plaintiffs, v. Manufacturers Hanover Trust Company, Defendant.

Supreme Court, Special Term, New York County.

August 16, 1984

Attorney(s) appearing for the Case

Stuart Hecker for plaintiffs. Milbank, Tweed, Hadley & McCloy and Kelley, Drye & Warren (Adlai S. Hardin, Jr., of counsel), for defendant.

MARTIN EVANS, J.

Plaintiff bond owners commenced this action against defendant bank indenture trustee, alleging negligence and breach of fiduciary duty. Defendant moves for summary judgment dismissing the complaint, claiming that plaintiffs have no rights under the bonds and thus lack standing. The motion requires the court to examine the application of the Act of State doctrine in the context of an alleged

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