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Matter of de Sanchez

Trustee Ordered to Account for a 1927 Trust Finding Exception in 'Reckford' Inapplicable

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*1  This is a motion by Trustee JPMorgan Chase Bank to dismiss a petition to compel it to account for a 1927 inter vivos trust created by Elizabeth L. DeSanchez (“Grantor”) for her primary benefit. Although no original or copy of the trust indenture is known to exist, the Trustee bank produced discovery documents in the course of related litigation which showed the existence of the trust in 1940. Having found no further records, the bank concluded that Grantor must have revoked this trust during her lifetime. Petitioner, as fiduciary of the Grantor’s estate, filed the instant proceeding to compel the bank to account. The bank defaulted on the initial return date. A decision and order directed the bank to account within 45 days (Matter of DeSanchez, NYLJ, February 27, 2012, at 22, col 5). Thereafter, the bank moved 1) to vacate its default and the court’s order compelling it to account, 2) for leave to respond to the petition nunc pro tunc, and 3) to dismiss the petition. The bank argued several

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