VirtueOnline - News - Exclusives - The Hostile Trial between the Diocese of Washington and PNC Bank Begins:
The battle between the Episcopal Diocese of Washington and the influential PNC bank begins later this month. In recent court papers, PNC raises deep concerns about the goals of the Diocese of Washington's petition to the court requesting the termination of the Soper Trust.
The civil action takes place in the United States District Court for the District of Maryland with the initial hearing on January 23, 2012. This diocesan-initiated lawsuit has as its goal the termination of the Ruth Gregory Soper Memorial Trust Fund and its transformation into a diocesan-managed account.
PNC bank recently stated a vigorous defense in an attempt to stop the Diocese of Washington from removing the Soper Trust from the domain of PNC and making it a locally managed account.
On January 12, 2012, PNC filed a cross-motion for summary judgment in which it claims that diocesan officials are attempting to destroy the original intention of Ruth Gregory Soper as expressed in her carefully delineated will.
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