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GRACE v. GRACE NATIONAL BANK OF NEW YORK

No. 744, Docket 71-1908.

465 F.2d 1068 (1972)

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

United States Court of Appeals, Second Circuit.

Decided August 1, 1972.

Attorney(s) appearing for the Case

Lewis M. Dabney, Jr., New York City (Liebman, Eulau, Robinson & Perlman, New York City, Herbert Robinson, New York City, of counsel), for plaintiff-appellant.

Paul W. Williams, New York City (Cahill, Gordon, Sonnett, Reindel & Ohl, New York City, Mathias E. Mone and Marvin S. Goldklang, New York City, of counsel), for defendants-appellees.

Before MOORE, SMITH and HAYS, Circuit Judges.

J. JOSEPH SMITH, Circuit Judge.

In September of 1964 an agreement was reached whereby The Marine Midland Trust Company of New York ("Marine Midland Trust") would acquire substantially all the business and assets of Grace National Bank of New York ("Grace Bank"). The stockholders of Grace Bank, including W. R. Grace & Co. ("W. R. Grace"), which owned over 80% of the capital stock of Grace Bank, and appellant, one of some...

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