MATTER OF THE ACCOUNTS OF SEPARATE TRUSTS CREATED UNDER AGREEMENTS DATED SEPTEMBER 16, 19127 AND OCTOBER 5, 1927, BETWEEN ELIZABETH L. DE SANCHEZ, AS GRANTOR, AND CENTRAL UNION TRUST COMPANY OF NEW YORK, AS TRUSTEE, FOR THE BENEFIT OF MARIA LAMAR SANCHEZ AND EMILIO SANCHEZ LAURENT ET AL. (3187/01)—Incident to the contested accounting proceedings of JP Morgan Chase Bank (“JP Morgan”), as successor trustee of inter vivos trusts established by decedent in 1927, two beneficiaries move for partial summary judgment against JP Morgan for investments which were made by a predecessor trustee in the 1920′s, and which that trustee disclosed in intermediate accountings which were judicially settled by Order of the Supreme Court, New York County in 1953.
JP Morgan opposes the motion, asking this Court to dismiss it on the ground of res judicata. The bank contends that movants are foreclosed by the 1953 Supreme Court Order, as well as by the recent decision of the Hon. Carol Robinson Edmead, J.S.C. (affirmed by the Appellate Division, First Department) which denied applications by movants and several other beneficiaries to vacate said Order, which settled the prior intermediate accountings more than fifty (50) years ago.1
