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Initial capital contributions to Onex Farms were made as
follows:
Partner Capital Contribution
Lever $500,000
Pencot $1,000,000 ($400,000 in
cash and the balance in
a note, or notes, payable
to the partnership)
Archimedes $1,000,000
Profits and losses from Onex Farms, as well as the partners’
ownership interests, were divided in proportion to the partners’
capital contributions; namely, 40 percent each for Pencot and
Archimedes and 20 percent for Lever.
On December 3, 1990, the Archimedes partnership agreement
was amended. The amended agreement was retroactive, taking
effect on January 1, 1990. The name of the partnership was
changed to Archimedes Limited Partnership, and two new partners
were added: Le Damier Trust (Le Damier) as a limited partner
and Edwin Hunter (Mr. Hunter) as an “ordinary” partner.4
Le Damier made a capital contribution of 982,358 units in
4 Edwin Hunter was Dr. Chambers’s attorney. He appears to
have represented many of the entities and individuals involved in
the various transactions and business organizations discussed in
this case. We assume that the reference to “ordinary” partner
means general partner. Le Damier Trust was represented by
Shirley Kidd Hunter, Edwin Hunter’s mother.
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