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COURT ORDERS MERITOR TO PAY INTEREST ON OUTSTANDING 12 PERCENT SUBORDINATED CAPITAL NOTES

                   COURT ORDERS MERITOR TO PAY INTEREST
           ON OUTSTANDING 12 PERCENT SUBORDINATED CAPITAL NOTES
    PHILADELPHIA, Nov. 4 /PRNewswire/ -- Meritor Savings Bank (NASDAQ: MTOR) announced today that the United States District Court for the Eastern District of Pennsylvania has issued an order requiring Meritor Savings Bank to pay interest due March 1, 1991, and Sept. 1, 1991, on its 12 percent Subordinated Capital Notes, due Sept. 1, 1998, which were outstanding on Oct. 31, 1991.
    There were $6,409,000 of such notes outstanding on that date.
    /delval/
    -0-                         11/4/91
    /CONTACT:  Leslie C. Voth of Meritor Savings Bank, 215-636-7117/
    (MTOR) CO:  Meritor Savings Bank ST:  Pennsylvania IN:  FIN SU: MK -- PH016 -- 0804 11/04/91 14:32 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 4, 1991
Words:118
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