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Article: Bay View Capital Corporation Announces Net Assets in Liquidation.
- Article from:
- PR Newswire
- Article date:
- January 28, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bay View Capital Corporation (the "Company") today reported net assets in liquidation at December 31, 2002. As previously announced, the Company adopted liquidation basis accounting effective September 30, 2002, as a result of its stockholders' approval of a plan of dissolution and stockholder liquidity and completion of the sale of its retail banking assets to U.S. Bank, N.A. on November 1, 2002. In accordance with generally accepted accounting principles, under the liquidation basis of accounting, the Company is now reporting the value of, and the changes in, net assets available for distribution to stockholders ("net assets in liquidation") instead of results from ...