Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-ared-3_19-cv-00346/USCOURTS-ared-3_19-cv-00346-38/pdf.json

Nature of Suit Code: 190
Nature of Suit: Other Contract Actions
Cause of Action: 28:1441 Petition for Removal- Fraud

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IN THE UNITED STATES DISTRICT COURT 

EASTERN DISTRICT OF ARKANSAS 

NORTHERN DIVISION 

IN RE ELIJAH AND MARY 

STINY TRUSTS 

ORDER 

No. 3:19-cv-346-DPM 

1. The Court regrets its delay 1n addressing the pending 

petitions and motion. 

2. Fourteenth status report, Doc. 294, and supplement, 

Doc. 295, appreciated. The Court thanks the trustee for the additional 

information about the August 2022 pool pressure test payment. 

Eli Stiny, Alexis Stiny, and Andrew Stiny (the Stiny grandchildren) 

object to the report because the trustee failed to include an investment 

strategy proposal from Greg Lathrop - their preferred investment 

advisor. Doc. 297. The trustee's report and supplement are otherwise 

unopposed. Setting aside the investment strategy proposal issue, the 

Court approves all the trustee's actions taken and payments made as 

specified in his fourteenth report. 

3. There has been no objection to the trustee's request to 

pay himself for services rendered and expenses incurred from 

26 September 2022 through 25 February 2023. His unopposed request 

is therefore granted. The Court authorizes payment of $11,682.89 to the 

trustee from Regions account No. xxxx4646. 

Case 3:19-cv-00346-DPM Document 307 Filed 08/23/23 Page 1 of 4
4. The trustee's unopposed request to pay Lovett for work 

between 28 September 2022 and 28 February 2023 on behalf of Rena's 

estate is also granted. This work was reasonable and necessary. The 

Court authorizes the trustee to pay Glen Lovett, Jr. PLC $570.00 from 

Regions Account No. xxxx4646. 

5. As noted, the Stiny grandchildren object to the trustee's 

report because the trustee failed to file an updated investment strategy 

proposal by the Court's 28 February 2023 deadline. They also seek the 

Court's permission to obtain consent from all the Elijah George Stiny 

share beneficiaries to invest half of those assets (roughly $10,000,000) at 

their own discretion using an online broker. The trustee opposes this 

request, and belatedly offers Lanthrop' s updated proposal-investing 

the funds in Treasury Bills or other similar investments with stairstepped maturities of thirty, sixty, and ninety days-as an alternative. 

By separate motion, the trustee seeks authorization to take the steps 

necessary to implement this strategy. While the Stiny grandchildren 

consented to hiring Lanthrop and to implementing his proposed 

strategy, they now say his services are an unnecessary expense and ask 

the Court for authorization to invest the funds as they see fit. 

The Court grants the trustee's motion, Doc. 300, and overrules the 

Stiny grandchildren's objections, Doc. 297. The Stiny grandchildren's 

embedded request for authorization to invest the funds as they see fit 

is denied. Lanthrop is well-qualified to invest the trusts' funds and his 

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proposed strategy aligns with the trustee's goals. His annual fee 

(.0025% of all assets under management) is reasonable. The Court 

therefore authorizes the trustee to execute the contract, Doc. 300-2, on 

behalf of each Trust. The Court directs the trustee to open a Charles 

Schwab investment account for the Stiny Survivor's Trust and transfer 

into that account up to the sum of $6,000,000.00 from Simmons IDS 

Account No. xxxx8878. The Court also directs the trustee to open a 

Charles Schwab investment account for the Stiny Exemption Trust and 

transfer into that account up to the sum of $5,000,000.00 from Simmons 

IDS Account No. xxxx0880. He must do so as soon as practicable and 

no later than 30 September 2023. 

6. The Court appreciates the trustee's fifteenth status report, 

Doc. 306. No one has objected to the trustee's request to pay Lovett for 

his work from 1 March 2023 to 31 May 2023 on behalf of Rena's estate. 

Request granted. Lovett' s work was reasonable and necessary. The 

Court authorizes the trustee to pay Glenn Lovett Jr., PLC $610 from 

Regions Acct. No. xxxx4646. 

7. The Court notes the trustee's update about the status of the 

Exemption Trust's federal and Arkansas income tax returns for 2022. 

This information is much appreciated. 

8. No one has objected to the trustee's request to pay himself 

for services rendered and expenses incurred from 26 February 2023 to 

25 May 2023. Doc. 306-8. His request is granted. The Court therefore 

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Case 3:19-cv-00346-DPM Document 307 Filed 08/23/23 Page 3 of 4
authorizes the trustee to pay himself $4,978.28 for his services rendered 

and expenses incurred for the covered period from Regions Acct. No. 

xxxx4646. 

So Ordered. 

{/ 

D.P. Marshall Jr. 

United States District Judge 

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