GLENDALE, Calif. -- Chase Manhattan Bank has agreed to withdraw a lawsuit that stood in the way of Citadel Holding Corp.'s restructuring and recapitalization program, Citadel said Friday.

Chase, which led a four-bank, $60 million subordinated loan to Citadel, sued the California thrift company in March, claiming that the restructuring plan violated the loan agreement.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.