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MATTER OF WILLE (INTRA BANK)

61 Misc.2d 992 (1968)

In the Matter of Frank Wille, as Superintendent of Banks of the State of New York, Petitioner. Intra Bank, S. A., et al., Respondents.

Supreme Court, Special Term, New York County.

June 12, 1968

Attorney(s) appearing for the Case

Hughes, Hubbard, Blair & Reed (Francis Reed and Powell Pierpont of counsel), for petitioner. Robert Morgenthau, United States Attorney (Lawrence W. Schilling of counsel), for United States of America, respondent. Bigham, Englar, Jones & Houston (Robert B. Budelman of counsel), for Middle East Airlines, respondent. Milbank, Tweed, Hadley & McCloy (William E. Jackson and A. Sidney Holderness, Jr., of counsel), for Chase Manhattan Bank, respondent. Bernard Bernstein for Pehle, Reimer, Luxford & Naiden, respondent. William Mellon Eaton and John G. Houser for Intra Bank, S. A., respondent. Lee, Mulderig & Celentano (Peter J. Malloy, Jr., of counsel), for American Life Ins. Co. and others, respondents.

WILLIAM C. HECHT, JR., J.

Intra Bank, S. A. ("Intra Beirut"), a banking corporation organized under the laws of the Republic of Lebanon, was licensed to maintain a branch in New York City ("Intra NY"). On October 15, 1966, the Superintendent of Banks took possession of the business and property of Intra NY and determined to liquidate its affairs, pursuant to section 606 of the Banking Law.

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