In the Matter of the Estate of Blanche D. Hunter, Deceased. Chase Manhattan Bank, as Trustee of the Trust Under…

Summary

The Court held that res judicata barred objections asserting that the bank, as trustee of Trust B, should have challenged its prior conduct as executor of the estate and trustee of Trust A. The beneficiaries had notice of, and a full and fair opportunity to object in, the earlier judicial accounting proceedings, and the claims arose from the same alleged mismanagement disclosed in those accounts. The Court emphasized that the ruling did not bar objections concerning the bank’s continuing management of Trust B itself.