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of Wills, Philadelphia, seeking to be appointed administratrix of
Philip's estate. The Register granted letters of administration
to Mary Orlando on or about December 6, 1977. She served as
administratrix of the estate until August 31, 1982.
From the time of decedent's death until the middle of 1978,
Anthony Orlando, Mary Orlando's husband, unsuccessfully attempted
to locate the securities stolen from Philip. Anthony Orlando was
introduced to Edward J. Reardon, Jr. (Reardon), who was a stock
broker with Merrill, Lynch, Pierce, Fenner & Smith. Anthony
Orlando asked Reardon to conduct an investigation to see if the
stolen securities could be located.
Reardon began an investigation during which he learned about
John T. Lynch Jr. (Lynch), an attorney and investment banker who
had considerable experience in the municipal bond and finance
field. He contacted Lynch because he thought Lynch's experience
would be helpful in locating the stolen securities.
Reardon introduced Lynch to the Orlandos and Connie Kates,
the Orlandos' daughter. Following negotiations among the
Orlandos, Connie Kates, and Lynch, on August 7, 1978, Lynch and
Mary Orlando, as administratrix of the estate, signed an
agreement, whereby Lynch was hired to locate the stolen
securities. The agreement provided that Lynch would receive 33-
1/3 percent of the face value of any securities recovered if they
were recovered prior to suit. Otherwise, Lynch was to receive 40
percent of the face value of any securities recovered if they
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