Vineyard National Bancorp CEO contract rejected, preferreds delisted

By Caroline Salls

Pittsburgh, Sept. 17 - Vineyard National Bancorp received court approval to reject the employment contract of chief executive officer and president Glen C. Terry, according to an 8-K filed with the Securities and Exchange Commission.

The employment contract was deemed rejected as of July 23.

In addition, Vineyard said NYSE Amex LLC has removed the company's 7.5% series D non-cumulative preferred stock from listing.

Vineyard National, the Corona, Calif., holding company for Vineyard Bank, filed for bankruptcy on July 21 in the U.S. Bankruptcy Court for the Central District of California. Its Chapter 11 case number is 09-26401.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.