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MATTER OF WYNYARD v. BEINY

214 A.D.2d 344 (1995)

625 N.Y.S.2d 27

In the Matter of Martin Wynyard, Appellant, v. Rotraut L.U. Beiny et al., Respondents. Antique Company of New York, Intervenor-Respondent. (Action No. 1.) In the Matter of Martin Wynyard et al., Appellants, v. Antique Company of New York, Inc., et al., Respondents. (Action No. 2.) In the Matter of Martin Wynyard, Appellant, v. Antique Company of New York et al., Respondents. (Action No. 3.)

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

April 6, 1995

Contrary to petitioner's contention, the record shows that the trustees of the Beiny Trust refused to consent to the pledge of the stock by respondent Beiny, who was merely the discretionary beneficiary and not owner of the stock, and thus did not personally have the power to pledge the trust's assets (EPTL 7-2.1 [a]; see, Cohn v United States Trust Co., 127 A.D.2d 523). Specific performance was therefore properly denied as...

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