MARYLAND NAT'L BANK v. CUMMINS

No. 36, September Term, 1990.

322 Md. 570 (1991)

588 A.2d 1205

MARYLAND NATIONAL BANK v. CAROL H. CUMMINS ET AL.

Court of Appeals of Maryland.

Motion for Reconsideration Denied May 24, 1991.


Attorney(s) appearing for the Case

Melvin J. Sykes, and William A. Snyder, Jr. (Matthew W. Nayden, Sharon A. Snyder, Ober, Kaler, Grimes & Shriver, all on brief), Baltimore, for appellant.

Sheldon S. Satisky, Kathleen McDermott, Weinberg and Green, Baltimore, amicus curiae for Maryland Bankers Ass'n.

John J. Gill, Michael F. Crotty, Washington, D.C., amicus curiae for American Bankers Ass'n.

Steven E. Angstreich (Carolyn C. Lindheim, Levy, Angstreich, Finney, Mann & Burkett, P.C., Philadelphia, Leonard A. Orman, Orman & Dilli of Baltimore, Md., Allan Kanner, Allan Kanner & Associates, Philadelphia, all on brief), Philadelphia, for appellee.

Argued before MURPHY, C.J., ELDRIDGE, RODOWSKY, McAULIFFE and CHASANOW, JJ., and CHARLES E. ORTH, Jr., Judge of the Court of Appeals of Maryland (retired), Specially Assigned.


RODOWSKY, Judge.

In this class action the Circuit Court for Baltimore City held that investment practices for personal trusts followed by a corporate trustee for nearly ten years violated the prudent investor rule. We consider multiple issues relating to liability and to the relief granted.

The corporate trustee is the appellant, Maryland National Bank (MNB). Appellees, the plaintiffs below (Plaintiffs), are income beneficiaries of a testamentary trust administered...

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