stox,
"There is a clear case to sue BNY Mellon here."
There are better outcomes for CT holders than to sue the Trustee, IMO, including for BNYM to cure what is remaining in the LBHI BK in a new BNYM-backed Wealth Management IB and Trust business as well as deal with whatever are the remaining possibilities with BCS.
NYC benefits, too, with all the employment and taxes staying in NY.
Could I be wrong again? Yes, but it is BNYM that has to make the decision on what they are to do next with their capital and personnel.
BNYM operators on this message board may post more on this thread soon; so, we will see.
Good luck.
mojo9