In the Matter of the Accounting of Henry M. Hubbell, as Trustees under the Will of Sophie E. Hubbell, Esther C…

Summary

The New York Court of Appeals reversed the Appellate Division and remanded the case, holding that the trustees breached their fiduciary duty by failing to liquidate or otherwise convert the unproductive trust assets and by selling trust stock to a corporation they controlled, and that the surrogate’s finding of no injury to the remaindermen was erroneous.