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Capital Bancorp Settles Legal Battle with Controlling Holtz Family.(Originated from The Miami Herald)
Knight Ridder/Tribune Business News, October, 1997 by Cordle, Ina Paiva
MIAMI--Oct. 30--Capital Bancorp's controlling Holtz family and a group of dissident directors have agreed to settle their longstanding legal battle, clearing the way for Union Planters Corp. to purchase one of Miami's largest homegrown banks.
The settlement signals the final bell in a series of legal rounds that have won the dissident directors their ultimate objectives: increasing Capital Bank's stock value, ousting the Holtzes from control and forcing the bank's sale.
The terms of the settlement, announced by Capital Wednesday, require Abel Holtz, the family's controversial patriarch and one of the bank's founders, to surrender 140,000 shares of Capital Bancorp common stock -- with a market value of more than $8 million -- for...
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