As both co-trustee and beneficiary of the trust, plaintiff David Roth had the authority, albeit limited in some respects, to invade the principal of the trust consisting of several hundred thousand shares of Gulf & Western Industries, Inc. preferred. Roth delivered 15,525 of these shares to the defendant bank in or around 1982, which were used as collateral against substantial loans made to him personally, as well as to various entities of which he was principal and whose...
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