Mesa Offshore Trust (fka MOSH)

[boxsterX]

Further observation on the Trustee's opposition:

Mr. Stamper is not trying to rewrite the trust indenture, rather merely recognizing the long-standing principle that a fiduciary trustee cannot profit (even by avoiding the cost of paying for its own legal fees) by its own misdeeds to the trust for which it is acting as trustee [e.g. its breach of fiduciary duty]. Obviously, the settlement cannot be approved at this stage, as it would preclude a finding on whether or not the trustee breached this fiduciary duty, even by taking its fees out of the trust when it was in a conflict of interest position (e.g. when it was being sued by the trust for damages it caused the trust). Amazingly, the settling parties are nevertheless asking for a Court finding on this very issue in their ill-conceived motion, WITHOUT THAT VERY TRIAL OF THIS ISSUE. How can you have it both ways? If a trial is needed on this issue for Stamper, it is therefore also needed on the findings requested by the settling parties.