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Article: New Jersey Supreme Court refuses to block Connor in Mountain Ridge seizure. (Jeff Connor, Mountain Ridge State Bank)
- Article from:
- PR Newswire
- Article date:
- October 9, 1990
CopyrightCOPYRIGHT 1990 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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NEW JERSEY SUPREME COURT REFUSES TO BLOCK CONNOR
IN MOUNTAIN RIDGE SEIZURE
TRENTON, N.J., Oct. 9 /PRNewswire/ -- In a unanimous decision, the Supreme Court of New Jersey this morning refused to block New Jersey Commissioner of Banking Jeff Connor's action last Friday, to seize Mountain Ridge State Bank, located in West Orange, N.J., by denying a motion made on behalf of the failed bank to reverse the commissioner's action. As a result, the institution was able to engage in regular banking business as "Mountain Ridge Bank," a wholly owned state- chartered commercial bank subsidiary of Hubco, Inc., which is located in Union City.
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