Centennial Bank v. Powell

Filing 295

JUDGMENT: Counts I, IV, V, and VII of Centennial Bank's second amended complaint are dismissed without prejudice. Counts II and III were tried to a twelve person jury from 12/11/2018 to 12/14/2018. They returned a unanimous verdict for Rena Wood and against Centennial Bank, 271 , which is incorporated. Counts II and III of Centennial Bank's second amended complaint are dismissed with prejudice. Rena Wood is not disqualified from serving as a trustee, but the Court declares that it is in the best interest of Mrs. Stiny and all the beneficiaries of the Elijah and Mary Stiny Trust, and all its sub-trusts, that Wood serve only with a co-trustee. The Court will appoint one in due course. Centennial Bank prevailed and is entitled to th is partial declaratory judgment on Count VI of its second amended complaint. Count VI is otherwise dismissed with prejudice. Count VIII is dismissed with prejudice. The Court retains jurisdiction to make the trustee appointments and resolve ongoing issues about fees, expenses, and administration of the Elijah and Mary Stiny Trust, and all its sub-trusts. Signed by Judge D. P. Marshall Jr. on 2/25/2019. (jak)

IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF ARKANSAS
JONESBORO DIVISION
CENTENNIAL BANK,
Guardian of the Estate of
Mary Moore Stiny
v.

PLAINTIFF

No. 3:17-cv-226-DPM

RENA WOOD

DEFENDANT
JUDGMENT

1. Counts I, IV, V, and VII of Centennial Bank's second amended

complaint are dismissed without prejudice.
2. Counts II and III were tried to a twelve-person jury from

11 December 2018 to 14 December 2018 in Jonesboro. The jury returned
a unanimous verdict for Rena Wood and against Centennial Bank,
NQ 271, which is incorporated. Counts II and III of the Bank's second
amended complaint are therefore dismissed with prejudice.
3. Counts VI, VIII, and IX were tried to the Court. On Court VI:

Based on the jury's verdict, Rena Wood is not disqualified from serving
as a trustee. But the Court declares that it is in the best interest of Mrs.
Stiny and all the beneficiaries of the Elijah and Mary Stiny Trust, and
all its sub-trusts, that Wood serve only with a co-trustee. The Court will
appoint one in due course. Centennial Bank prevailed and is entitled

to this partial declaratory judgment on Count VI of its second amended
complaint. Count VI is otherwise dismissed with prejudice.
4. Count VIII is dismissed with prejudice because no constructive

trust is justified based on the jury's verdict, which binds the Court.
5. On Count IX: The Court declares that Rena Wood became the

successor co-trustee of the Survivor's Trust of the Elijah and Mary Stiny
Trust on 14 March 2016 when Mrs. Mary Moore Stiny was found
incompetent. Wesley Gates having failed to serve as the other successor
co-trustee, the Court declares that position vacant. The Court will
appoint a successor co-trustee in place of Gates in due course. The
Court further declares that Centennial Bank is entitled to partial
judgment on the part of Count IX of the second amended complaint
that seeks appointment of a successor trustee. The Court will appoint
a successor co-trustee of the Survivor's Trust and a trustee of the
Exemption Trust or subtrusts. Count IX is otherwise dismissed with
prejudice.
6. The Court retains jurisdiction to make the trustee appointments

and resolve ongoing issues about fees, expenses, and administration of
the Elijah and Mary Stiny Trust, and all its sub-trusts.

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D.P. Marshall (r.
United States District Judge

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