James L. and Patricia A. Connell - Page 5

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          the findings of facts to the extent necessary to address the                
          issues identified above.  For a more detailed explanation of the            
          Barrister partnerships, see the cases cited above.                          
               Some of the facts were stipulated, and those facts, with the           
          annexed exhibits, are so found and are incorporated herein by               
          reference.  At the time the petition was filed, petitioners'                
          legal residence was Santa Rosa, California.                                 
          The promoter of the Barrister partnerships, and of the                      
          transactions involved herein, was an individual named Irving                
          Cohen (Cohen).  Cohen organized and controlled an entity named              
          Universal Publishing Resources Ltd. (Universal).3  At Cohen's               
          request, in 1981, Paul F. Belloff (Belloff) and Robert Gold                 
          (Gold) formed Barrister Associates (Barrister), a New York                  
          general partnership.  Belloff and Gold each held a 50-percent               
          interest in Barrister.                                                      
               Between 1981 and 1983, Barrister organized and was the                 
          general partner of the Barrister partnerships.  Barrister                   
          organized 35 limited partnerships in 1982, collectively named the           
          Barrister Equipment Associates Series 80 through 114, and 300.              
          In 1983, Barrister organized 60 limited partnerships,                       
          collectively named the Barrister Equipment Associates Series 115            

          3                                                                           
               The Madison Library, Inc. (Madison), a corporation, was                
          owned, directly or indirectly, for the benefit of Cohen's                   
          children.  In the 1980's Madison formed a subsidiary, Geoffrey              
          Townsend, Ltd. (Townsend).  Universal was a subsidiary of                   
          Townsend, and Cohen was Universal's president.                              




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