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NEW IBERIA BANCORP, INC. v. SCHWING

Nos. 95-867, 95-868.

664 So.2d 784 (1995)

The NEW IBERIA BANCORP, INC., et al., Plaintiffs-Appellants, v. Jules A. SCHWING, et al., Defendants-Appellees. Jules A. SCHWING, et al., Plaintiffs-Appellees, v. The NEW IBERIA BANCORP, INC., et al., Defendants-Appellants.

Court of Appeal of Louisiana, Third Circuit.

Writ Denied February 28, 1996.

Attorney(s) appearing for the Case

Samuel E. Masur, Benjamin Brookshire Blanchet, Lafayette, Cathy Ellen Chessin, Camille B. Poche, New Orleans, for The New Iberia Bancorp, Inc. in both cases.

Jack C. Caldwell, Lafayette, William Christian Gambel, Ann Capritto Dowling, New Orleans, for Jules A. Schwing et al. in both cases.

Jack C. Caldwell, William Christian Gambel, Ann Capritto Dowling, Camille B. Poche, for Jules A. Schwing et al.

Samuel E. Masur, Benjamin Brookshire Blanchet E, Cathy Ellen Chessin, Camille B.

Poche, for The New Iberia Bancorp, Inc. et al.

Before DOUCET, C.J., and COOKS and PETERS, JJ.

COOKS, Judge.

FACTS

Bancorp is a Louisiana bank holding company whose sole subsidiary is the New Iberia Bank. Jules Schwing is a member of Bancorp's Board of Directors. During the time period relevant to this litigation, Schwing controlled, individually and as executor of his parents' estates, 32% of Bancorp's issued and outstanding common stock.

In April of 1994, Schwing became aware several in-state holding companies were interested in acquiring...

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