Thursday, August 29, 2013

Judge Orders A Constructive Trust For LICH

Hands Off, SUNY: Brooklyn Judge Puts LICH Property in a 'Constructive Trust'
More positive developments:
"Supreme Court Justice Carolyn Demarest has imposed "a constructive trust for the benefit of the Othmer Endowment Fund" on all of Long Island College Hospital's (LICH's) real estate currently in control of SUNY Downstate. According to the Brooklyn Eagle, this type of trust is meant to transfer property to "the rightful owner." This could be the first step towards righting a terrible wrong -- the looting of a trust set up by a local wealthy couple to benefit LICH. In her ruling, Justice Demarest reminded SUNY that funds previously "borrowed" in 2000, 2006 and 2011 from the Othmer Endowment Fund at LICH must be restored by SUNY/ LICH."
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