By Matthew Santoni (May 23, 2022, 5:55 PM EDT) — The PNC Bank administrators of a trust established by a late heiress to the Mellon fortune can’t shield their communications with their attorneys from disclosure to the $660 million trust’s beneficiaries, after a Pennsylvania Superior Court panel ruled Monday that there can be a “fiduciary exception” to privilege under state law.
The three-judge panel said that PNC and other trustees for the fund established in 1963 by Sarah Mellon Scaife had a duty to be open with the trust’s beneficiaries about how the trust was handling their money, and in the absence of litigation motivating any attorney-client conversations, that duty outweighed…
Source: law360.com
