Quantcast
Home / Opinion Digests / Business Law / Merged bank stands in shoes of original bank (access required)

Merged bank stands in shoes of original bank (access required)

A trust failed to remove the original corporate trustee after it merged with another bank. The trust agreement provided the original corporate trustee could only be removed for cause, and after the merger, the new combined bank stood in the shoes of the original corporate trustee. As such, it could only be removed for cause. Background Clarence ...