BNY Mellon Spending Millions Defending Allegations of Wrongdoing in Mercer Estate Administration -- Novick & Associates

HUNTINGTON, N.Y., June 22, 2015 /PRNewswire/ -- Local Long Island law firm, Moritt, Hock & Hamroff, has so far billed BNY Mellon (BNYM) and its co-fiduciaries more than $2,400,000 in legal fees to defend the bank's administration of the $8,000,000 estate of renowned East Hampton sculptor Norman J. Mercer. Mr. Mercer's sons, retired West coast businessmen David and Howard Mercer have alleged in Suffolk County Surrogate's Court that BNYM has been guilty of widespread incompetence, negligence and wrongdoing in its administration of their father's estate. 

Last year Suffolk County Surrogate's Court Judge John M. Czygier, Jr. put the brakes on the runaway legal fees paid from Mr. Mercer's estate. Judge Czygier stated in his July 2014 decision that "The Court is deeply concerned about the continuing charges to an estate initially valued at approximately $8,000,000". Those charges, involving thirteen Moritt Hock attorneys, currently exceed $2,400,000, and the litigation is still in the discovery stage. Last year's court decision directed that "no further legal fees may be charged against this decedent's estate or any trusts flowing therefrom pending the further order of the court."

Judge Czygier noted in his July 2014 decision that "prior decisions issued warnings to counsel, specifically, Moritt Hock & Hamroff, LLP, of the possibility of disgorgement (of legal fees previously paid to the firm by the estate)." Judge Czygier has commented repeatedly about BNYM's resistance to providing information sought by Howard and David Mercer in connection with their efforts to hold BNYM and its co-fiduciaries accountable for their actions in the administration of their father's estate.

In an August 2012 Order, Judge Czygier stated "This court finds the behavior of the fiduciaries troubling on a number of levels, including the possible editing of the corporate fiduciary's (BNYM) guidelines prior to providing same to the Mercer sons' counsel." In a May 2014 Decision the judge noted the "fiduciaries' continued resistance to all aspects of discovery." BNYM's stonewalling has resulted in the outrageous legal fees that to date have amounted to approximately thirty percent of the value of Norman Mercer's estate.

Contact:         Donald Novick, Novick & Associates, P.C.                      
                        Email: [email protected]   
                        (631) 547-0300                                

SOURCE Novick & Associates, P.C.

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