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Inasmuch as FIC had more than six Burger King restaurants in
operation before August 26, 1981, FIC became entitled to the
right of first refusal in the Exclusive Territories through
August 1986.
C. FIC's Advisers
1. Hugh B. Shillington
After opening Store No. 12 in 1959, FIC retained Hugh B.
Shillington, C.P.A. (Mr. Shillington), as its outside accountant,
to assist in tax and financial accounting matters. Mr.
Shillington was a principal of Shillington & Fay (S&F), a Coral
Gables, Florida, accounting firm. Mr. Shillington served as
outside accountant to other Burger King franchisees and had been
recommended to FIC by BKC. S&F reviewed3 FIC's annual financial
statements, including financial statements for FIC's fiscal years
ending September 30, 1979, 1980, and 1981 (FY 1979, FY 1980, and
FY 1981). Mr. Shillington, who advised FIC to retain its
financial records for 7 years, died in 1995.
2. Louis B. Tishler, Jr.
Louis B. Tishler, Jr. (Mr. Tishler), is an attorney who has
been practicing law in the Chicago area since his graduation from
3 S&F annually reviewed the balance sheets, income
statements, and statements of changes in financial position of
FIC (the financial statements) in order to provide an opinion
letter of limited assurance that S&F was aware of no material
modifications that should be made to the financial statements in
order for them to be in conformity with generally accepted
accounting principles. The scope of a review is substantially
less than that of an audit.
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