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Article: Irving Bank pleased with State Supreme Court decision. (New York State Supreme Court)
- Article from:
- PR Newswire
- Article date:
- July 6, 1988
CopyrightCOPYRIGHT 1988 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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IRVING BANK PLEASED WITH STATE SUPREME COURT DECISION
NEW YORK, July 6 /PRNewswire/ -- Irving Bank Corp. (NYSE: V) said today that it is pleased with the decision of the New York State Supreme Court refusing Bank of New York's request to order the Irving board to redeem its share purchase rights and to approve under Section 912 of the New York Business Corporation Law BNY's takeover of Irving. Irving noted that the court specifically stated that it would not decide which of the two competing offers for Irving was better and would leave that decision to the business judgement of the Irving board of directors.
Irving is disappointed that the court ...