Zahirudeen Premji and Carol M. Premji - Page 13

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          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.                                                                






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