- 321 -
During 1980 and 1981, the partners in Century Industries,
their capital interests, and their initial capital contributions
were as follows:
Partners Partnership Int. Capital Contrib.
Atlay partnership 29 percent $290
Bea Ritch trusts 49 percent 490
James Children's trust 5 percent 50
Lawrence Children's trust 5 percent 50
Lee Children's trust 5 percent 50
Richard Children's trust 5 percent 50
Kanter 1 percent 10
Weisgal 1 percent 10
In 1984, Cypress Lane Investment (a general partnership
consisted of 30 irrevocable trusts for the benefit of Weisgal's
family) replaced Atlay partnership as a 29-percent partner in
Century Industries.
Century Industries had no office or employees of its own and
operated out of the accounting firm offices of Weisgal. Although
Century Industries considered and evaluated a number of potential
investments from 1981 through about 1988, it made only a
relatively small number of investments until about 1987. After
1981, its partners were not required to make additional capital
contributions until 1986. During 1986 and 1987, its partners
made the following additional capital contributions:
Page: Previous 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 NextLast modified: May 25, 2011