In re Bank of Niagara

Citations

• 6 Paige Ch. 213
• 1836 N.Y. LEXIS 228
• 1836 N.Y. Misc. LEXIS 59

Syllabus

<p>A receiver, or other trustee, is not authorized to act himself as counsel in the business of his trust, so as to entitle himself to extra counsel fees for professional services beyond the allowances provided in the fee bill to attornies, solicitors, &c. The commissions allowed by law are intended to be a full compensation for his personal services in the execution of his trust.</p> <p>Where the account of a receiver, or other trustee, is made up without a direction from the court to make periodical rests therein, his commissions, for receiving and paying, must be computed upon the aggregate amounts of his receipts and expenditures for the whole time of accounting.</p> <p>If the receiver, or other trustee, renders annual accounts, in conformity with the provisions of the 154th rule of the court of chancery, he may charge his commissions on the receipts and disbursements of the previous year, exclusive of such sums as have been received for principal and reinvested. But if he neglects to render his accounts annually, upon the making up of his accounts afterwards, he can only charge his commissions upon the gross amount of the receipts and disbursements for the whole period since the rendering of his last regular account.</p>