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Corp. a Delaware corporation (CMC), and Charles F. Dolan and
Limited Partners (Limited Partners).
All of the stock of CMC was owned by OBA. Kanter was the
president of CMC, and Baskes was the vice president of CMC.
The LICCDC partnership agreement provided that the purpose
of LICCDC was to carry on the business of constructing, owning,
altering, repairing, financing, operating, promoting, and
otherwise exploiting one or more cable television systems in
Nassau and Suffolk Counties in the State of New York.
The Limited Partners of LICCDC included two classes, "class
A participants" and "class B participants". The class A
participants consisted of various persons that contributed cash
of $1,015,000 and $485,000 in 1974 and 1975, respectively.
The class B participants consisted of OBA and Eagle
Ventures, Inc. (EV). The LICCDC partnership agreement provided:
"Any additional cash required to complete the equity portion of
the 450 mile addition of the Oyster Bay system which cannot now
be borrowed by the Partnership shall be contributed half by the
General Partners and half by the class B Participants, provided,
however, that neither the General Partner nor the class B
Participants shall be required to make capital contributions
after June 30, 1976."
Article 6.4 of the LICCDC partnership agreement provided
that "payment from the General Partner or from the class B
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