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Case Citations [1] (Spring 2024)

handle is hein.ali/relat1027 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Spring 2024 Citations TRUSTS CHAPTER 7. THE ADMINISTRATION OF THE TRUST TOPIC 3. POWERS OF THE TRUSTEE § 187. Control of Discretionary Powers W.D.Pa.Bkrtcy.Ct.2022. Quot. in case quot. in sup., com. (d) cit. and quot. in sup. Corporate parent of Chapter 11 debtor that manufactured asbestos-containing products filed an adversary proceeding against trustees of a personal-injury-settlement trust created under debtor's confirmed plan, alleging, among other things, that trustees breached the trust by issuing modified directives to its claim processor, which altered the evaluation of claims in an effort to increase the trust's low claim-payment rates. This court granted the parties' motion, filed post-trial, to approve a proposed settlement. In evaluating the settlement, the court noted that it likely would have held that corporate parent failed to show that trustees breached the trust by implementing the modified directives. The court explained that, according to § 187 of the Restatement of Trusts, trustees had the discretion to issue the modified directives absent an abuse of discretion; factors outlined in Comment d of § 187 further guided the court to conclude that trustees had not abused their discretion. In re All Matters Related to North American Refractories Company, 647 B.R. 466, 485-487. TOPIC 4. REMEDIES OF THE BENEFICIARY AND LIABILITIES OF THE TRUSTEE § 216. Consent of Beneficiary Tex.2023. Cit. in case quot. in sup. Executor of decedent's estate sued remainder beneficiaries of decedent's marital trust, seeking a declaration that decedent did not owe any debts to the trust arising from distributions that decedent made to himself as sole trustee and beneficiary of the trust during his lifetime. The trial court granted partial summary judgment for plaintiff, and the court of appeals affirmed. Affirming, this court held that defendants previously entered a valid settlement in which they released plaintiff from claims arising from decedent's purportedly unauthorized discretionary distributions of trust principal under the Restatement of Trusts § 216, because defendants had full COPYRIGHT ©2024 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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