BNY Mellon Motion For Summary Judgment Fails in Mercer Estate Battle, Novick & Associates, P.C. Reports
Court denies bank summary judgment on thirty-two issues
HUNTINGTON, N.Y., April 7, 2015 /PRNewswire/ -- In the latest setback for BNY Mellon and its co-fiduciaries, Suffolk County Surrogate Judge John M. Czygier Jr. has denied the bank summary judgment on thirty-two objections to the bank's accounting in the Estate of famed E. Hampton sculptor Norman Mercer filed by Howard Mercer, David Mercer and the Guardian Ad Litem (GAL), for infant beneficiaries.
BNY Mellon lawyers at Moritt, Hock & Hamroff filed a massive six hundred page motion in which they asked the court to dismiss thirty-seven objections involving the bank's administration of the renowned sculptor's multi-million dollar estate. Judge Czygier dismissed five minor objections out of the thirty-seven.
In his ruling, Judge Czygier soundly rejected the bank's arguments that Howard Mercer, David Mercer and the GAL were required to prove damages prior to trial, and that the GAL's objections to the accounting had been waived by a prior settlement to which the GAL wasn't a party. The judge also rejected the fiduciaries' argument that Howard and David Mercer had waived their right to object to the fiduciaries' accounting as a result of a prior settlement of unrelated litigation.
Judge Czygier made a finding in his Decision that "Affidavits from each of the Mercer objectants support their claim that various nautical instruments (valued at close to $200,000) owned by their father were sold by co-fiduciary Carol Mercer before probate was granted the decedent's will and codicil." The distribution of estate assets without the permission of the Court prior to a Will being admitted to probate is a violation of New York law. This is something that BNY Mellon, which holds itself out as one of the country's most experienced estate and trust fiduciaries should have known.
The Court's March 30th ruling is the latest victory in the Mercers' battle to protect their father's legacy from the alleged incompetence, negligence and retaliatory wrongdoing of BNY Mellon and its' BNY Mellon Wealth Management unit.
Contact:
Donald Novick, Novick & Associates P.C.
Email: [email protected]
(631) 547-0300
SOURCE Novick & Associates, P.C., Attorneys for Mercer Sons
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