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GRACE v. GRACE NATIONAL BANK OF NEW YORK

No. 65 Civ. 2388.

333 F.Supp. 1312 (1971)

Michael P. GRACE, II, Plaintiff, v. GRACE NATIONAL BANK OF NEW YORK et al., Defendants.

United States District Court, S. D. New York.

August 10, 1971.

Attorney(s) appearing for the Case

Lewis M. Dabney, Jr., New York City, for plaintiff; Liebman, Eulau, Robinson & Perlman, Herbert Robinson, New York City, of counsel.

Cahill, Gordon, Sonnett, Reindel & Ohl, New York City, for defendants; Lawrence J. McKay, Paul W. Williams, David R. Hyde, Mathias E. Mone, New York City, of counsel.

OPINION

BONSAL, District Judge.

In this action, plaintiff Michael P. Grace II sues individually, and derivatively on behalf of the stockholders of the former Grace National Bank of New York ("Grace National Bank"), to recover damages for alleged breach of fiduciary duty by W. R. Grace & Co. in connection with the sale of the assets of the Grace National Bank to The Marine Midland Trust Company of New York...

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