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MATTER OF HYDE

16241

32 Misc.3d 661 (2011)

929 N.Y.S.2d 650

2011 NY Slip Op 21195

2011 NY Slip Op 21195

In the Matter of the Intermediate Accounting of GLENS FALLS NATIONAL BANK AND TRUST COMPANY and Another, as Trustees under the Will of CHARLOTTE P. HYDE, Deceased. Article Ninth Trust (for LOUIS H. WHITNEY) and Article Ninth Trust (for MARY W. RENZ). In the Matter of the Intermediate Accounting of GLENS FALLS NATIONAL BANK AND TRUST COMPANY and Another, as Trustees under the Will of CHARLOTTE P. HYDE, Deceased. Article Seventh (for LOUIS H. WHITNEY). In the Matter of the Judicial Settlement of the Intermediate Account of Proceedings of BANKNORTH, N.A. and Another, as Co-Trustees of the Trust created by NELL PRUYN CUNNINGHAM under Agreement Dated July 31, 1935.

Surrogate's Court, Warren County.

May 20, 2011.

Attorney(s) appearing for the Case

Nolan & Heller, LLP ( David H. Wilder of counsel), for Mary W. Renz and others.

Judge & Duffy ( H. Wayne Judge and Monica A. Duffy of counsel), for Louis H. Whitney and others.

McPhillips, Fitzgerald & Cullum, LLP ( James E. Cullum of counsel), for Byron Lapham.

McNamee, Lochner, Titus & Williams ( Richard D. Cirincione and G. Kimball Williams of counsel), for Banknorth.

Bartlett, Pontiff, Stewart & Rhodes, P.C. ( Benjamin R. Pratt of counsel), for Samuel Hoopes.

Putney, Twombly, Hall & Hirson, LLP ( Christopher M. Houlihan of counsel), for Glens Falls National Bank and Trust Company.

OPINION OF THE COURT

JOHN S. HALL, JR., S.

The Finch Pruyn paper company (hereinafter referred to as Finch Pruyn) was, until recently, a large family-owned paper manufacturing company located in Glens Falls, New York. Through a series of successful innovations, including the development of a type of white, opaque paper requisite for making photocopies, the company flourished for more than a century. Unfortunately, the paper industry fell into a downturn...

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