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MATTER OF IBJ SCHRODER BANK & TRUST COMPANY

271 A.D.2d 322 (2000)

706 N.Y.S.2d 114

In the Matter of IBJ SCHRODER BANK & TRUST COMPANY, Appellant. 186 TRUST, Respondent.

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

Decided April 20, 2000.

It is settled that the duties and powers of a trustee are defined by the terms of the trust agreement and are tempered only by the fiduciary obligation of loyalty to the beneficiaries (see, United States Trust Co. v First Natl. City Bank, 57 A.D.2d 285, 295-296, affd 45 N.Y.2d 869; Restatement [Second] of Trusts § 186, comments a, d). In this matter, the same provision of the...

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