Estate of Mary D. Maggos - Page 11

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          Ring, Helm & Co.,6 Bezman, and Katten Muchin & Zavis (Civ. No.              
          95-2973-08).  The circuit court litigation was removed to the               
          Federal District Court in Hawaii (Civil No. 95-00784 SPK) and was           
          ultimately consolidated with the District Court litigation.  In             
          the District Court litigation, decedent sought both damages and             
          the rescission of the redemption transaction based on a number of           
          claims asserted against Nikita Maggos and PCAB, including common            
          law fraud, breach of fiduciary duty (against Nikita in his                  
          capacity as a fiduciary being the president and a director of               
          PCAB and the decedent’s son), and breach of the Illinois Business           
          Corporation Act.  Decedent also asserted similar claims, as well            
          as professional malpractice claims, against Helm, Huber, Ring,              
          Helm & Co. (her former accountants), Bezman, and Katten Muchin &            
          Zavis (Nikita’s, and PCAB’s attorneys)                                      
               Petitioner’s attorneys requested Coopers & Lybrand to                  
          determine the fair market value of a 100-percent and a 56.7-                
          percent interest in PCAB.  Coopers and Lybrand prepared an expert           
          report for the District Court litigation in support of                      
          petitioner’s contention that decedent had been defrauded by                 
          Nikita Maggos.  Coopers & Lybrand concluded that on May 1, 1987,            
          a 100-percent interest in PCAB was worth between $14 million and            
          $18 million and a 56.7-percent interest was worth between                   
          $7,144,200 and $9,185,400.  That study determined that the                  

               6The accountants whom Nikita Maggos and PCAB employed.                 

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