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In addition to providing legal services, Kanter's law firm,
LK, raised capital for investments from clients of the firm.
Kanter and other partners of LK that participated in OBA
solicited and obtained from various investors the funds that were
provided to LICCDC that had been purportedly promised to LICCDC
by OBA. Kanter and other partners of LK solicited and obtained
from various partners, as investors, the funds that were provided
to LICCDC that had been purportedly promised by OBA. As noted
earlier, BRT was an indirect partner in OBA through the HB, BW,
and YP partnerships. Kanter personally solicited investors for
LICCDC including, but not limited to, Genesis Ventures and Hugh
Hefner. As a result of the funds raised by Kanter and other
partners of LK for LICCDC, OBA never contributed cash or property
to LICCDC in excess of $200.
In exchange for the funds raised by Kanter and other
partners of LK for LICCDC, OBA received its interest in LICCDC
and additional interests in LICCDC through the partnerships HB,
BW, and YP for which OBA paid no cash or other property other
than $200.
By an amendment to its partnership agreement, as of June 13,
1978, LICCDC changed its name to Cablevision Systems Development
Co. (Cablevision).
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