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L&C Springs’ two original general partners were Solomon A.
Weisgal Investment Associates (SAWIA)2 and Century Capital Corp.
(Century Capital).3
L&C Springs' limited partners included, among others, First
Rate Investments, a partnership composed of members of Kanter's
family and trusts established for the benefit of members of
Kanter's family.
As of 1981 and throughout the years in issue, Tanglewood was
a wholly owned subsidiary of The Holding Co., a Delaware
corporation, with its principal place of business in Chicago,
Illinois.4 The same few individuals (namely, Kanter, Solomon A.
Weisgal (Weisgal), and Boggio) who controlled Tanglewood and The
Holding Co. also controlled L&C Springs and the activities of L&C
Springs. The transactions entered into between Tanglewood and
2 As of 1981, SAWIA's general partner was the Solomon A.
Weisgal Revocable Trust, Solomon A. Weisgal, co-trustee, and the
limited partners were all members of or entities for the benefit
of Solomon A. Weisgal's immediate family.
3 Century Capital Corp. was a Delaware corporation, the
beneficial owners of which were entities for the benefit of
Solomon A. Weisgal's immediate family and a trust for the benefit
of Sharon Meyers, president of First Rate Investments (a limited
partner of L&C Springs).
4 From 1977 through 1982 and from 1990 through 1991, Burton W.
Kanter served as president of The Holding Co. From 1977 through
1982, Solomon Weisgal served as vice president of The Holding
Co., and from 1982 through 1986, he served as president of The
Holding Co. From 1987 through 1989, Joshua Kanter, son of
Burton W. Kanter, served as president of The Holding Co. The
shareholders of The Holding Co. constituted, in large part,
trusts for the benefit of Burton W. Kanter, Solomon Weisgal, and
their family members.
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Last modified: May 25, 2011