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BANK OF NY v. IRVING BANK

139 Misc.2d 665 (1988)

Bank of New York Company, Inc., Plaintiff, v. Irving Bank Corporation et al., Defendants.

Supreme Court, New York County.

April 18, 1988

Attorney(s) appearing for the Case

Sullivan & Cromwell (John L. Warden of counsel), for plaintiff. Wachtell, Lipton, Rosen & Katz (Marc Wolinsky of counsel), for Irving Bank Corporation, defendant. Winthrop, Stimson, Putnam & Roberts (Stephen A. Weiner of counsel), for Joseph A. Rice and others, defendants.

HERMAN CAHN, J.

The Bank of New York Company, Inc. (BNY), plaintiff, moves for an order enjoining defendant Irving Bank Corporation (IBC) from enforcing a certain "rights" agreement as amended on March 15, 1988, and specifically enjoining the enforcement of the March 15, 1988 amendment.

THE FACTS

In September 1987 BNY announced its intention to commence a tender offer for all of the outstanding...

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