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Mennen Heirs Sue Wilmington Trust

By Gerry W. Beyer

Wilmingtontrust

Theheirs to Mennen Co., are suing Wilmington Trust in the amount of $100 millionfor investment losses. Mennen Co., the company that makes the deodorant SpeedStick, is headquartered in New Jersey. The company was sold toColgate-Palmolive in 1992 for $670 million. George Mennen created a trust in1970.

KathrynMennen, George Mennen’s grand daughter, stated that Wilmington Trust did nottake any mitigating action when the co-trustee and her uncle, “wronglydissipated” the trust assets through investments in a floundering business.The case is currently in discovery.

See Bloomberg News, Wilmington Trust Sued by Mennen Heirs Seeking $100M, American Banker, Sep. 11, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

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