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NAT'L UNION FIRE INS. CO. OF PITTSBURGH v. EAGLE EQUIP. TRUST

221 A.D.2d 212 (1995)

633 N.Y.S.2d 308

National Union Fire Insurance Company of Pittsburgh, Pa., et al., Appellants-Respondents, v. Eagle Equipment Trust et al., Respondents-Appellants. National Union Fire Insurance Company of Pittsburgh, Pa., et al., Appellants, v. Richard A. Cohn as Trustee for Eagle Equipment Trust, et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

November 14, 1995

There is no authority for applying, by analogy, a theory of "piercing the corporate veil" to disregard the form of a trust, when the trust was not formed for an illegal purpose and there is the requisite separation between beneficiary and trustee (cf., National Superlease v Reliance Ins. Co., 123 A.D.2d 608, 609, lv denied 69 N.Y.2d 611). Even if it were permissible to proceed on such a theory, plaintiffs have not alleged...

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