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On September 2, 1987, Finley Kumble sent Mr. Blonien a copy
of the partnership agreement to sign along with loan documents to
execute to borrow the funds necessary to make his capital
contribution. Because of his concerns about Finley Kumble’s
financial viability, Mr. Blonien did not sign the partnership
agreement. During October 1987, Finley Kumble pressured Mr.
Blonien to sign the partnership agreement and make his capital
contribution. In November 1987, Mr. Blonien met with Governor
Carey, Steven Kumble, and Jim Normile to discuss his concerns
about Finley Kumble’s viability. Mr. Blonien still did not feel
reassured about Finley Kumble’s viability, and he did not sign
the partnership agreement or the loan documents.
In late November and early December, several of Mr.
Blonien’s bond clients informed him that they would be seeking
other counsel because Finley Kumble’s well-publicized financial
problems called into question the value of the legal opinions
Finley Kumble would be required to issue in connection with the
bond transactions that Mr. Blonien had originated. Despite these
problems, which led to the loss of some clients and writedowns of
billable time, Finley Kumble did collect fees for its legal
services in bond transactions that Mr. Blonien had originated.
On December 8, 1987, after Finley Kumble announced its
dissolution, Mr. Blonien sent a letter to Finley Kumble in which
he stated that he was withdrawing as a partner of the
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