- 13 - evidence of the substance of the meeting. He did not speak with Ms. Jobin, the bankruptcy trustee. Based on M&L's October 1990 letters, his conversations with Mr. Brayer and Karen Marx, and his attendance at the November creditors' meeting, Mr. Premji concluded that M&L's investment materials he had reviewed in August 1990 were not accurate. He questioned why M&L was having difficulty securing financing if its net worth was as claimed. He interpreted the October 1990 letters as nothing more than excuses for why money was not available and an attempt by M&L to cover its tracks. Consequently, he believed that the funds he had invested with M&L would not be repaid. Mr. Premji consulted an attorney in late February 1991. He was told that a suit against the Bank of Boulder (Amazing Enterprises suit) was planned and that several other possibilities for investor recovery were being considered. Shortly thereafter, in March 1991, he signed a retainer agreement with the attorney's firm. As a result, Mr. Premji was one of the 68 Amazing Enterprises suit plaintiffs seeking to recover losses from their M&L investments. The Amazing Enterprises suit was commenced on or about July 1, 1991. It was settled in January 1993. Mr. Premji received $29,205 in settlement of his claim in late 1994. His legal fees and costs associated with the suit were $9,772.Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Next
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