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The settlement offer made to Mr. Faber was intended as an offer
to settle at the partnership level and was not intended to be
made to the individual partners. Mr. Faber was of the opinion
that during this time there were continuing settlement
negotiations going on that may have produced better terms.
Shortly thereafter, Mr. Faber withdrew as counsel of record.
In late 1992, George J. Noumair (Mr. Noumair) began
settlement discussions with Mr. Long on behalf of partners who
wanted to settle. Pursuant to inquiries from Mr. Noumair
concerning settlement, Mr. Long wrote to Mr. Noumair on April 22,
1993, with regard to Cinema '85. The letter stated:
A number of the limited partners have contacted the
respondent and indicated their interest in accepting
respondent's settlement offer. We are, therefore, going to
have the Service Center make the settlement offer directly
to the limited partners, so that those interested in
settling can close out their interest in this partnership.
In the course of ongoing discussions with Mr. Long, Mr. Noumair
indicated that he would survey the partners in order to ascertain
who desired to settle. On June 24, 1993, Mr. Noumair sent a
memorandum to the limited partners of Cinema '85 in which he
stated: "If you wish to 'opt out' and settle individually at
this time, please advise us * * *. We will then arrange for the
appropriate documents to be sent to you."
In a letter dated September 30, 1993, Mr. Newman wrote to
Lee Peretzman at the Greenberg Brothers Partnerships office in
New York City expressing his willingness to settle with
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