Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Thursday, September 19, 2013

Mennen Heirs Sue Wilmington Trust

WilmingtontrustThe heirs to Mennen Co., are suing Wilmington Trust in the amount of $100 million for investment losses. Mennen Co., the company that makes the deodorant Speed Stick, is headquartered in New Jersey. The company was sold to Colgate-Palmolive in 1992 for $670 million. George Mennen created a trust in 1970.

Kathryn Mennen, George Mennen's grand daughter, stated that Wilmington Trust did not take any mitigating action when the co-trustee and her uncle, "wrongly dissipated" 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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