ILNews

COA: Bank lacks standing to appeal trust terminations

Back to TopCommentsE-mailPrintBookmark and Share

Old National Bancorp cannot appeal the termination of two trusts it served as a representative of, either in the representative capacity or on an individual capacity, the Indiana Court of Appeals held Thursday. As such, the court dismissed the appeal.

Old National was trustee of the Hanover College Trust and the Goodrich Trust when Hanover College petitioned to terminate both trusts. The trial court granted the petition in February and ordered Old National to transfer the trust assets to the college. Old National did not seek a stay of the judgment and transferred the assets. It later brought appeals in its capacity as trustee in both cases, which were consolidated.

The trial court granted Hanover College’s motion to dismiss on the ground that the bank lack standing to bring the appeal.

The COA found Union Savings & Trust Co. v. Eddingfield, 78 Ind. App. 286, 134 N.E. 497 (1922), and Simon v. Simon, 957 N.E. 2d 980 (Ind. Ct. App. 2011),  instructive in this matter.

Once the trusts terminated, the bank’s representative capacity was terminated along with any power or ability to act on behalf of the trusts, so Old National cannot maintain this appeal in its representative capacity, Senior Judge Carr Darden wrote in Old National Bancorp d/b/a Old National Trust Company, as Trustee of the Percy E. Goodrich Trust and the Hanover College Trust v. Hanover College, 68A05-1303-TR-111.

Old National argued it brought the appeal in its individual capacity, but the judges quickly dismissed the claim. The bank never moved to intervene in its individual capacity.

“Merely because Old National is aggrieved by losing the business and corresponding revenue that is involved in holding the position of trustee and administering trust assets does not automatically confer standing,” Darden wrote.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
Subscribe to Indiana Lawyer
  1. "So we broke with England for the right to "off" our preborn progeny at will, and allow the processing plant doing the dirty deeds (dirt cheap) to profit on the marketing of those "products of conception." I was completely maleducated on our nation's founding, it would seem. (But I know the ACLU is hard at work to remedy that, too.)" Well, you know, we're just following in the footsteps of our founders who raped women, raped slaves, raped children, maimed immigrants, sold children, stole property, broke promises, broke apart families, killed natives... You know, good God fearing down home Christian folk! :/

  2. Who gives a rats behind about all the fluffy ranking nonsense. What students having to pay off debt need to know is that all schools aren't created equal and students from many schools don't have a snowball's chance of getting a decent paying job straight out of law school. Their lowly ranked lawschool won't tell them that though. When schools start honestly (accurately) reporting *those numbers, things will get interesting real quick, and the looks on student's faces will be priceless!

  3. Whilst it may be true that Judges and Justices enjoy such freedom of time and effort, it certainly does not hold true for the average working person. To say that one must 1) take a day or a half day off work every 3 months, 2) gather a list of information including recent photographs, and 3) set up a time that is convenient for the local sheriff or other such office to complete the registry is more than a bit near-sighted. This may be procedural, and hence, in the near-sighted minds of the court, not 'punishment,' but it is in fact 'punishment.' The local sheriffs probably feel a little punished too by the overwork. Registries serve to punish the offender whilst simultaneously providing the public at large with a false sense of security. The false sense of security is dangerous to the public who may not exercise due diligence by thinking there are no offenders in their locale. In fact, the registry only informs them of those who have been convicted.

  4. Unfortunately, the court doesn't understand the difference between ebidta and adjusted ebidta as they clearly got the ruling wrong based on their misunderstanding

  5. A common refrain in the comments on this website comes from people who cannot locate attorneys willing put justice over retainers. At the same time the judiciary threatens to make pro bono work mandatory, seemingly noting the same concern. But what happens to attorneys who have the chumptzah to threatened the legal status quo in Indiana? Ask Gary Welch, ask Paul Ogden, ask me. Speak truth to power, suffer horrendously accordingly. No wonder Hoosier attorneys who want to keep in good graces merely chase the dollars ... the powers that be have no concerns as to those who are ever for sale to the highest bidder ... for those even willing to compromise for $$$ never allow either justice or constitutionality to cause them to stand up to injustice or unconstitutionality. And the bad apples in the Hoosier barrel, like this one, just keep rotting.

ADVERTISEMENT