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FIRST MIDLAND BANK & TRUST CO. v. CHEM. FINAN. CORP.

Civ. A. No. 77-231.

441 F.Supp. 414 (1977)

FIRST MIDLAND BANK AND TRUST COMPANY, a Michigan Banking Corporation, Plaintiff, v. CHEMICAL FINANCIAL CORPORATION, a Michigan Corporation, CFC Bank, a Michigan Banking Corporation, Gladwin County Bank, a Michigan Banking Corporation, Citizens Bank and Trust Company, a Michigan Banking Corporation, and Chemical Bank & Trust Company, a Michigan Banking Corporation, Defendants.

United States District Court, W. D. Michigan.

Supplemental Opinion June 10, 1977.

Order June 17, 1977.

Attorney(s) appearing for the Case

Thomas J. Heiden, Grand Rapids, Mich., for plaintiff.

Curtis W. Poole, Jr., Fred L. Woodworth and Ronald S. Holliday, Detroit, Mich., James S. Bicknell, III, Clare, Mich., for defendants.

OPINION

MILES, District Judge.

Upon the filing of this suit alleging violations of the antitrust laws, an automatic stay of Federal Reserve approval of the proposed merger between defendants Gladwin County Bank and CFC Bank became effective under 12 U.S.C. § 1828(c)(7)(A). Defendants have now moved to set this automatic stay aside, as the Court is authorized to do under section 1828(c)(7)(A). At the outset the Court observes that this is not a proceeding...

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