Wisner’s Heirs Lose in Court Battle

The heirs of philanthropist Edward Wisner have lost their courtroom battle to continue reaping the benefits of a century-old trust that controls 52,000 acres of Louisiana coastline. 

A five judge panel on the Fourth Circuit Court of Appeal ruled unanimously that Wisner intended the Wisner Donation Trust to end on August 4, 2014 and that Mayor Mitch Landrieu need not be removed as the fund’s trustee. 

It remains uncertain as to whether the heirs will appeal to the state Supreme Court or whether the assets of the trust will be divided among the beneficiaries. 

The fund generates around $8 million a year in proceeds, and a large share goes to the city.  The remainder is divided among Wisner’s heirs, the Salvation Army, Tulane University and the former Charity Hospital controlled by LSU. 

See Richard Rainey, Mayor Mitch Landrieu Wins Latest Round in Wisner Trust Case, NOLA.com, Sept. 19, 2014.