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Corp. and licensed them to FMEC Corp., the transactions of the
Partnerships do not differ in any substantive respects.
For convenience, we refer to the series of transactions
among PI, ECI Corp., F & G Corp., each of the Partnerships, FMEC
Corp., and PI as the Partnership transactions. In addition to
the Partnership transactions, a number of other limited
partnerships entered into transactions similar to the Partnership
transactions, also involving Sentinel EPE recyclers and Sentinel
expanded polystyrene (EPS) recyclers. We refer to these
collectively as the Plastics Recycling transactions.
B. The Partnerships
Clearwater and Poly Reclamation are New York limited
partnerships. Poly Reclamation and Clearwater each closed during
the latter few months of 1981. Samuel L. Winer (Winer) is the
general partner of both Clearwater and Poly Reclamation.
With respect to each of the Partnerships, a private
placement memorandum was distributed to potential limited
partners. Reports by F & G Corp.'s evaluators, Dr. Stanley M.
Ulanoff (Ulanoff), a marketing consultant, and Dr. Samuel Z.
Burstein (Burstein), a mathematics professor, were appended to
the offering memoranda. Ulanoff owns a 1.27-percent interest in
Plymouth Equipment Associates and a 4.37-percent interest in
Taylor Recycling Associates, partnerships that leased Sentinel
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