Olin Morris, Successor Trustee of The U.A.B. Holding Trust v. Martin A. Grusin, Former Trustee of U.A.B. Holding Trust, et al.

A Trust was created in 1985. In both 1997 and 1999, the grantor consented to the use of the Trust’s stocks for the benefit of a separate entity, of which the Trust owned a one-half interest. In 2001, an agreement was entered whereby the Trust’s stocks were pledged to a bank in return for a loan to the Trust. The Trust then transferred the loan monies to the separate entity to pay off the separate entity’s indebtedness. After the Trustee’s resignation, the successor Trustee brought suit, alleging breach of fiduciary duties, civil conspiracy, and misappropriation and conversion. The trial court granted the defendants’ motion to dismiss, finding that they had not engaged in unlawful conduct. Plaintiff appeals, and we affirm.