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offering memoranda. He has no education or expertise in plastics
materials or plastics recycling.
Tucker did not testify at trial. However, Spears submitted
two memoranda written by Tucker and addressed to Becker relating
to the Plastics Recycling transactions. One memorandum, dated
November 12, 1981, is an evaluation of the financial projections
for SAB Leasing Associates (SAB Leasing). Tucker checked all of
the computations in the financial projections prepared by the
management of PI for SAB Leasing, and created several additional
schedules using variable inflation rates and royalty rates. The
second memorandum, dated September 24, 1982, briefly describes a
visit with Becker to PI and contains two additional schedules
using variable numbers.
After the 1981 SAB recycling partnerships closed, Becker had
an accountant sent to PI to confirm, by serial number, that as of
December 31, 1981, the equipment that was leased to the 1981 SAB
recycling partnerships was indeed available for use. Becker
arranged for this verification, independent of PI, because he
understood that the investment tax and business energy credits
would not be available if the qualifying property was not
available for use.
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