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II. Atrium Issues
A. Findings of Fact
1. Background
During the years in issue, UBC owned in excess of 99 percent
of the stock of United Bank of Denver (UBD), a national bank with
its principal place of business in Denver, Colorado. UBD was the
sole shareholder of Lincoln Building Corp. (LBC), a Colorado
corporation. LBC was the real estate holding company for UBD.
(In the papers filed in this case, the convention of the parties
has been to use the term “the Bank” to refer to UBC, UBD, or LBC,
individually or collectively, in cases where those corporations
acted in concert or where separate identification would not be
material. We shall adopt that convention.)
During the 1970s, LBC owned a portion of a block in downtown
Denver, Colorado, which is bounded by 17th Avenue to the south,
by 18th Avenue to the north, by Broadway to the west, and by
Lincoln Street to the east (the Broadway-Lincoln block). During
the 1970s and throughout some of the years in issue, LBC owned
two buildings located on the Broadway-Lincoln block, namely, Two
United Bank Center Building, located at 1700 Broadway (2UBC) and
Three United Bank Center Building, located at 1740 Broadway
(3UBC). A sketch of the Broadway-Lincoln block, the two
buildings, and certain other features is attached hereto as an
appendix.
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