In the Matter of the Accounting of Guisippina Parascandola, as Administratrix With the Will Annexed of Joseph…

Summary

The Court affirmed the lower courts' finding that Frank Auditore, as administrator, breached his fiduciary duty to the estate by misappropriating corporate assets, and remanded the matter to the Surrogate's Court to determine the stock's value and depreciation. The Court held that the administrator is liable for losses caused after his appointment and only for negligence regarding pre‑appointment misappropriations. Justice Lehman dissented, arguing that liability should not extend to the estate for pre‑appointment waste.