City Investing was a holding company with unites engaged in insurance, manufacturing, housing, real estate and community development.Their holdings included Home Insurance Company, Federal Home Life Insurance Company, Rheem Air Conditioners, World Color Press, General Developemnt Corporation, Guerdon Industries, Motel 6, California Savings and Loan, and more. Due to financial problems they were forced to liquidate the company.City Investing Company Liquidating Trust (Trust) provides that the Trust is organized for the sole purpose of liquidating the Trust Estate (the remaining assets and liabilities of City Investing Company) in a manner calculated to conserve and protect the Trust Estate, and to collect and distribute to the beneficiaries proceeds therefrom, in as prompt and orderly a fashion as possible, after the payment of, or provision for, expenses and liabilities.The Trustees are required to distribute to the beneficiaries cash or other property comprising a portion of the Trust Estate as the Trustees may, in their sole discretion, determine may be distributed without detriment to the ability of the Trust to pay or discharge claims, expenses, charges, liabilities and obligations. Liquidating Trust, Am Base Corp., Carteret Bancorp. at ¶ 320), and each gained additional knowledge by serving as members on various GDC committees. at ¶ 331.) The Audit Committee included Hatch (Chairman), Askew, Clark and Simons, and its principal function was to advise the Board on internal and external audit matters including the recommending of appointments of independent auditors. at ¶ 331(a).) The committee also reviewed with these auditors the financial statements, investigations and surveys prepared by the auditors, and it reviewed reports of GDC's Internal Audit Department. Bank's failure to require the full and accurate disclosure of material facts constituted a knowing concealment of and active participation in the scheme. Boylan, Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, NJ, for defendants City Investing Co. 23-24.) Each of the Director Defendants is also a "controlling person" of GDC within the meaning of the 1934 Act for the period from September 1985 to March 1990, (Id. The City Investing Company Liquidating Trust (the 'Trust') was created on September 25, 1985, pursuant to an Agreement and Declaration of Trust ('Trust Agreement') by and between City Investing Company ('City') and the three trustees of the Trust ('Trustees').The Trust Agreement is governed by the laws of the State of Delaware.
in a manner to conserve and protect the Trust Estate and to collect and distribute the beneficiaries proceeds.
This historic document was printed by the American Banknote Company and has an ornate border around it with a vignette of two allegorical men sitting on both sides of a picture of a building.
This item has the printed signatures of the companys president and is over 20 years old.
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