- 7 - ascertainable standard, except on a pro- rata basis of the certificate holders. THE TRUSTEES shall have power to distribute principal and/or income to the certificate holders, or to make decisions or distributions of the trust estate in whole or in part, for delivery or transfer to the certificate holders of any part or any portion thereof, at such valuation as is established by the trustees to be the fair value of the part or portion, or the trustees may convert the trust estate or any portion thereof into cash and distribute the net proceeds to the certificate holders. According to Schedule B of the declaration of trust, Ms. Girarde contributed the following personal property to the trust: Tools, checking and savings accounts, furniture, fixtures, and others as per the inventory. There is no evidence, however, that Ms. Girarde contributed any property to the trust in January 1991 or at any other time. The declaration of trust purports to have been executed by two trustees, Ms. Judie Dew and Mr. Don Fredrickson. Both individuals have personal relation- ships with Mr. Webber, and neither of them exercised any independent judgment or control with respect to Ghalardi or any of the assets allegedly held by or on behalf of Ghalardi. On or about January 5, 1993, Mr. Webber opened a checking account at First Interstate Bank with an initialPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011