NORTHEAST BANCORP, INC. and Union Trust Company, Petitioners-Appellants,
v.
BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent-Appellee.
CITICORP, a Corporation, Petitioner,
v.
The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, Respondent.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued May 14, 1984.
Decided August 1, 1984.
Attorney(s) appearing for the Case
George D. Reycraft, New York City (Cadwalader, Wickersham & Taft, New York City, of counsel), for petitioners Northeast Bancorp, Inc. and Union Trust Co.
James W. Quinn, New York City (Weil, Gotshal & Manges, New York City, of counsel), for petitioner Citicorp.
James E. Scott, Washington, D.C. (Richard K. Willard, Acting Asst. Atty. Gen., U.S. Dept. of Justice, Washington, D.C., Michael Bradfield, Gen. Counsel, Richard M. Ashton, Asst. General Counsel, Bd. of Governors of the Federal Reserve System, Washington, D.C., of counsel), for respondent Bd. of Governors of the Federal Reserve System.
(Bertram M. Kantor, Michael H. Byowitz, Wachtell, Lipton, Rosen & Katz, New York City, of counsel), for intervenor CBT Corp.
(Kenneth Laurence, Choate, Hall & Stewart, Boston, Mass., Prof. Laurence H. Tribe, Cambridge, Mass., of counsel), for intervenor Bank of New England Corp.
William Hughes Mulligan, New York City (Douglas M. Kraus, William J. Sweet, Jr., Lawrence J. Block, Margaret Enloe, Skadden, Arps, Slate, Meagher & Flom, New York City, of counsel), for intervenor Hartford Nat. Corp.
Jamie W. Katz, Asst. Atty. Gen., The Commonwealth of Massachusetts, Boston, Mass., Francis X. Bellotti, Atty. Gen., Boston, Mass., for intervenor Commonwealth of Massachusetts.
John G. Haines, Asst. Atty. Gen., Hartford, Conn. (Joseph I. Lieberman, Atty. Gen., Jane E. Comerford, Asst. Atty. Gen., Hartford, Conn., of counsel), for intervenor State of Connecticut and Brian J. Woolf, Banking Commissioner.
Stuart C. Stock, Washington, D.C. (Covington & Burling, Washington, D.C.), for intervenor Bank of Boston Corp.
Before CARDAMONE and PRATT, Circuit Judges, and BONSAL, District Judge.
United States Court of Appeals, Second Circuit.
BONSAL, District Judge:
Petitioners Citicorp ("Citicorp") and Northeast Bancorp, Inc. together with Northeast's subsidiary bank, Union Trust Company (collectively "Northeast"), petition this court to review three orders of the Board of Governors of the Federal Reserve System (the "Board") which, pursuant to Sections 3 and 4(c)(8) of the Bank Holding Company Act of 1956 (the "BHCA"), approved the applications of:
1) Bank of New England Corporation ("BNE")...
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