IN THE MATTER OF ACCOUNTS OF SEPARATE TRUSTS CREATED UNDER AGREEMENTS BY DE SANCHEZ

4206, 4206A, 3187/01, 402498/09.

81 A.D.3d 456 (2011)

916 N.Y.S.2d 77

In the Matter of Accounts of Separate Trusts Created under Agreements by ELIZABETH L. DE SANCHEZ, Grantor. PEDRO ARELLANO LAMAR et al., Appellants; JP MORGAN CHASE BANK, Trustee, Respondent.

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

Decided February 8, 2011.


Movants seek to set aside certain trust investments, which were judicially approved in accounting decrees issued in 1953 and 1975, on the ground that the investments were tainted by self-dealing on respondent's part. They allege that recently discovered evidence shows that in making these investments respondent had a conflict of interest, which it failed to disclose during the 1953 and the 1975 proceedings. Contrary to movants' contention, the motion is correctly characterized...

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