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Topic: Cy pres


In the News (Fri 19 Jul 19)

  
  Cy pres doctrine - Wikipedia, the free encyclopedia
In common law jurisdictions the cy pres doctrine (pronounced as see-pray) is a legal doctrine of the Court of equity.
It allows the Court to amend the terms of a charitable trust as near (Cy-prés) as possible to the original intention of the testator or settlor, where the original intended purpose is impossible, impracticable or illegal.
In the United States, Cy Pres applies only to charitable trusts where the original particular purpose of the trust has become impossible or impractible, and the terms of the trust do not specify what is to happen in such a situation.
en.wikipedia.org /wiki/Cy_pres   (252 words)

  
 Montana State Bar Association   (Site not responding. Last check: 2007-10-12)
Cy pres (sigh pray) comes from the Norman French term “cy pres comme possible,” meaning “as near as possible.” The doctrine was first used to distribute a trust fund fairly when the original purpose of the fund could not be acheived or the fund failed.
Under cy pres, the funds are distributed to the “next best” use – to, for example, another trust fund that would achieve the original goal.
She said she knows nothing about the specific cy pres doctrine or how it is now being applied to fundraising for legal services, but she said, “Congress has dried up the funding for legal services” and the cy pres movement doesn’t surprise her.
www.montanabar.org /montanalawyer/november2004/cypres.html   (1513 words)

  
 Use of Proceeds 2: Guide to Communities Considering Hospital Conversion in the Carolinas
Derived from the French words for "as near as possible," cy pres is the doctrine stipulating that, when a charity becomes impossible or impractical to fulfil, the assets of that charity will be used to fulfill another effort whose charitable purpose is as close to that of the original as possible.
In principle, the cy pres doctrine may apply in the case of hospital conversion when the apparent necessity of conversion indicates that the mission of a not-for-profit hospital is no longer possible to fulfill.
Thus, cy pres would require that the charitable assets of the hospital be used to continue to serve a mission as close as possible to their original charitable purpose, often through use in a foundation whose focus is also health care.
www.hpolicy.duke.edu /cyberexchange/conversion/gchap62.html   (1540 words)

  
 cypres
Under the cy pres doctrine, courts may order residual funds to be put to the “next best compensation use, for the aggregate, indirect, prospective benefit of the class (aggregate cy pres distribution).” H.B. Newberg and A. Conte, Newberg on Class Actions, § 10.17 (3d ed.
Because the concept of cy pres indicates the “next best use” of funds, initially cy pres awards were related to the purpose of the case from which it was created.
In many cases, cy pres awards are made pursuant to the stipulation or recommendation of counsel for both plaintiffs and defendants.
www.scbar.org /barfoundation/cypres.asp   (322 words)

  
 [No title]
Through a seldom-used device known as fluid recovery or cy pres, grants or distribution of unclaimed class action settlement funds may provide a source of funding for public interest and legal services organizations whose work can be said to further the interests of the class.
In cases where counsel anticipates that a cy pres remedy will be a desirable component of the relief in a Section 17200 action, he or she may want to structure the case as a class action from the outset.
An alternative to specifying the cy pres beneficiary in the settlement is to establish a procedure for selecting the beneficiaries.
www.impactfund.org /publications/cypresca2000.doc   (1559 words)

  
 FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code
The doctrine of cy pres is a saving device applicable to charitable trusts and it permits a court to direct the application of the trust property to a charitable purpose different from that designated in the trust instrument.
The doctrine of deviation is distinguishable from the doctrine of cy pres in that the doctrine of deviation is applicable to both private and charitable trusts and it is concerned solely with the administration of the trust.
Cy pres is applied only in the field of charitable trusts, whereas, a court of equity may order a deviation in private as well as charitable trusts.
caselaw.lp.findlaw.com /scripts/getcase.pl?court=oh&vol=960269&invol=1   (4421 words)

  
 MFA v Trustees WFI
Cy pres is an equitable doctrine to promote and accomplish the general charitable intent of the donor when such intent can not be strictly and literally done, whether due to impracticability or impossibility.
Cy pres did not arise in this case because there was no reason to assume the town would not acquire a home for the benefit of its poor and apply the income from the charitable trust towards the maintenance of the home.
Whenever cy pres is applied it is used to craft a method to fulfill the testator’s general charitable intent in as near conformity with the testator’s original intent as practicable.
www.debrasilberstein.com /mfavtrustees.htm   (6338 words)

  
 NHBA - Bar Journal Issue
New Hampshire’s cy pres doctrine does not provide a process through which such a faltering entity might distill a "successor purpose." Rather, it explicitly empowers the Court to prevent the failure of a charitable trust and permits a redirection of charitable assets in myriad ways, subject to the statute’s broad mandates and the Court’s authority.
The cy pres statute both permits and requires, in the case of a charitable trust’s failure, fulfillment — as nearly as possible — the purposes of the original trust.
In short, RSA 7:19-b compliments the cy pres statute by forcing health care charities to engage in a process that is intended to lead to the perpetuation of charitable endeavors for the greater good of the communities in which those endeavors are to be carried out.
www.nhbar.org /publications/archives/display-journal-issue.asp?id=109   (6380 words)

  
 McDonald's Memorandum Opinion and Order
Those funds will be placed in a cy pres fund for distribution to charitable or other tax-exempt organizations to be mutually agreed upon by the parties on or before the effective date of the Settlement.
Cy pres settlements function to indirectly benefit a class where, as here, distribution to individuals is not feasible.
There is no serious objection to the concept of utilizing cy pres distribution to eliminate the prohibitive costs of separately proving and distributing each class member’s damages or to the amount of the cy pres fund.
www.edcombs.com /CM/Notices/Notices233.asp   (3962 words)

  
 Community Involvement - Law Firm Mansfield, Tanick and Cohen, P.A. Attorneys Minneapolis, Minnesota   (Site not responding. Last check: 2007-10-12)
Cy Pres is a Latin term meaning "as near as possible." Historically, cy pres was a rule for the construction of instruments in equity, by which a party's intention was carried out "as near as possible" when it would be impossible or illegal to give it literal effect.
Establishment of cy pres funds is often a hotly contested issue, with class action defendants fighting for a reversion of money to their companies, rather than being directed to charities.
In another case, the cy pres funds provided over $100,000 of support to the Inner City Youth Summer Internship Program, which places inner city high school students in summer jobs at Twin City professional organizations to encourage them to consider higher education in pursuit of such careers.
www.mansfieldtanick.com /cm/custom/toccommunityinvolvement.asp   (967 words)

  
 Ed Tech K-12 Voucher Program: Background - State Technology Programs (CA Dept of Education)   (Site not responding. Last check: 2007-10-12)
A separate fund (termed "cy pres fund") was established with 66 2/3 percent of the difference between the Face Value Amount of the Settlement ($1.1 billion) and the amount of issued Consumer Vouchers.
The cy pres fund amount, in the form of vouchers, will be offered to eligible schools through a district grant process.
The vouchers distributed from the cy pres fund may be used for any platform that the school or district specifies.
www.cde.ca.gov /ls/et/st/voucherbkgrnd.asp?print=yes   (854 words)

  
 Creating A Consumer Trust Fund   (Site not responding. Last check: 2007-10-12)
In trust law, cy pres is used to prevent the failure of a trust when fulfillment of the intended purpose is impossible, impracticable or illegal.
Because cy pres actions in a lawsuit rarely involve voluntary or charitable contributions, there are fewer legal restrictions on the use of consumer trust funds, such as limits on lobbying.
While some attorneys seek to direct cy pres funds to organizations themselves when they file a cy pres petition to the court, it can be a time-consuming and occasionally controversial exercise, which other attorneys or the court may wish to avoid.
www.consumerfdn.org /creating_a_trust_fund.html   (570 words)

  
 Uniform Trust Code: Section 413 - Cy Pres   (Site not responding. Last check: 2007-10-12)
(3) the court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor’s charitable purposes.
The doctrine of cy pres is applied not only to trusts, but also to other types of charitable dispositions, including those to charitable corporations.
Pursuant to Sections 405(c) and 410(b), a petition requesting a court to enforce a charitable trust or to apply cy pres may be maintained by a settlor.
www.assetprotectionbook.com /UTC_cy_pres_413.htm   (780 words)

  
 HELR - Rethinking the Perpetual Nature of Conservation Easements
This Article argues that the charitable trust doctrine of cy pres should apply to donated conservation easements and, if interpreted as suggested, can provide a principled means of modifying or extinguishing easements that have ceased to provide public benefits sufficient to justify their continued enforcement (or have even arguably become detrimental to the public).
American Bar Association report on the doctrine of cy pres, the authors noted that there is a “significant variance in the degree of impossibility or impracticability required” by courts to trigger the application of cy pres,[149] and this state of affairs does not appear to have changed in the ensuing years.
In the first step of a cy pres process involving a conservation easement, the court would determine whether the charitable purpose of the easement (that is, the protection of the encumbered land for the conservation purpose or purposes specified in the easement) had become “impossible or impracticable” due to changed conditions.
www.law.harvard.edu /students/orgs/elr/vol29_2/mclaughlin.php   (8363 words)

  
 Matter of Post (2003 NYSlipOp 19606)
Thus, in 2001, petitioner commenced this proceeding seeking further expansion of the parameters of the trust under the cy pres doctrine.
Cy pres cannot be invoked "without first determining that the testator's specific charitable purpose is no longer capable of being performed by the trust" (Matter of Wilson, supra at 472) and that the testator had a general charitable intent (see Matter of Syracuse Univ. [Heffron], 3 NY2d 665, 670-671 [1958]).
Under the circumstances of this case, cy pres relief should have been afforded to the extent necessary to avoid taxation under 26 USC § 4942 and to permit the trustee to comply with EPTL 8-1.8 (a) (1).
www.courts.state.ny.us /reporter/3dseries/2003/2003_19606.htm   (941 words)

  
 The Impact Fund: Cy Pres Awards
The settlement or judgment specifies the specific types of cases or activities that the funds should be used for.
For example, cy pres awards can be administered to support housing, privacy and discrimination cases.
The Impact Fund is an appropriate recipient of cy pres awards because we are an established non-profit foundation, with a track record in administering funds, making grants (approved by a Board of Advisors made up of highly respected and diverse public interest attorneys) and preparing yearly reports of our activities.
www.impactfund.org /pages/support/cypres.htm   (283 words)

  
 Article: Access to Justice--The Next Best Thing: Unclaimed funds from class action settlements could benefit low-income ...
The cy pres rule concerns itself with the next-best use of gifts or the closest comparable alternative under a will or trust when the testator or donor expresses a charitable intent.
In order to avoid a failure of the trust or bequest, courts apply the cy pres rule of construction to determine if the dominant purpose behind the gift can be carried out even though incidental details or requirements surrounding the gift had become impossible or impractical.
Morý information about cy pres and fluid recovery can be obtained from the Impact Fund in Berkley, California or by visiting their website at www.impactfund.org.
www.michbar.org /journal/article.cfm?articleID=285&volumeID=20&viewType=archive   (1224 words)

  
 Taking the Ninth Amendment Seriously: Review of Massey
Under the doctrine of cy pres, “When faced with the problem of an expressed testamentary intent that is impossible to achieve, courts seek to effectuate as nearly as possible (cy pres) the testator’s intent.”
In a standard cy pres situation where, for some external reason, it is actually impossible to achieve the testator’s will, the court attempts to effectuate as nearly as possible the testator’s intent.
As best I can tell, the primary purpose of constitutional cy pres is to convince those who favor the limited-powers function but who shun the unenumerated-rights function that, in today’s constitutional landscape, the only way to achieve the limited-powers function is to allow the Ninth Amendment to be construed to protect unenumerated rights.
www.kinsellalaw.com /publications/takingninth.php   (6256 words)

  
 McDonald's Final Memo
The court found that the settlement was "fair, reasonable and adequate," and held that the proposed Cy Pres distribution was "pragmatic and sensible in the circumstances." The court found that the cost of identifying and notifying the purchasers of their opportunity to make a claim would "to the extent successful at all.
Third, the Cy Pres   distribution was narrowly targeted to benefit those persons who were harmed by the alleged wrongdoing: In each case, the funds were directed (or are being directed) to charitable or other organizations with the goal of aiding persons who would likely fit the profile of purchasers of the particular product.
The Pizzirusso and VLAN objections regarding the distribution of Cy Pres funds are baseless because they utterly fail to address the fundamental purpose of the Cy Pres Fund: to benefit class members who were not given sufficient information with which to make relevant dietary choices.
www.edcombs.com /CM/Notices/Notices187.asp   (10359 words)

  
 Cy Pres - Gifts of Stocks - Planned Gifts & Bequests
Cy pres directs class action residuals (and other funds resulting from lawsuits) to legal service providers and other non-profit organizations.
Our volunteer programs are candidates for cy pres awards.
We invite trial lawyers involved in cases with a cy pres component to nominate the BASF Foundation in such cases.
www.sfbar.org /foundation/cypres.aspx   (265 words)

  
 SSRN-Cy Pres: A Promise Unfulfilled by Ronald Chester
SSRN-Cy Pres: A Promise Unfulfilled by Ronald Chester
The author argues for expanded use of the cy pres power to reform failing charitable organizations.
While modification via cy pres should seek to stay close to settlor's initial intent, it is still society's need for the funds that ultimately guides what modification is made within that intent.
papers.ssrn.com /sol3/papers.cfm?abstract_id=709065   (194 words)

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