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SCHREIBER v. KELLOGG

No. 94-1551.

50 F.3d 264 (1995)

Palmer K. SCHREIBER, Appellant v. Christopher G. KELLOGG.

United States Court of Appeals, Third Circuit.

Decided March 17, 1995.

Attorney(s) appearing for the Case

Gregory G. Alexander (argued), Alexander & Pelli, Stanley R. Wolfe, Stuart J. Guber, Berger & Montague, Philadelphia, PA, for appellant.

Gavin P. Lentz (argued), Bochetto & Lentz, Philadelphia, PA, for appellee, Christopher G. Kellogg.

John E. Caruso (argued), Montgomery, McCracken, Walker & Rhoads, Philadelphia, PA, for appellee, Trustees of the Stock Trust Under Item Third of the Will of Rodman Wanamaker, Deceased.

Before: SCIRICA, LEWIS and RONEY, Circuit Judges.

OPINION OF THE COURT

SCIRICA, Circuit Judge.

This diversity case requires us to interpret the scope of a purported spendthrift provision in a trust created in the early part of the century. In so doing, we face an issue of first impression under the laws of Pennsylvania and most other states: the applicability of section 157(c) of the Restatement (Second) of Trusts, which allows creditors to reach a spendthrift trust interest in limited circumstances. The...

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