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foregoing transfers, the percentage ownership of the partnership
was as follows:
General Partners
Peter S. Peracchio 0.05%
John R. Peracchio 0.50%
Limited Partners
Peter S. Peracchio 0.45%
Peracchio Family Trust 99.00%
Total 100.00%
Partnership Assets
The partnership’s assets on the valuation date consisted
entirely of cash and marketable securities.1 The partnership’s
domestic stock portfolio on that date consisted of shares in 44
companies, with no apparent concentration in any particular
industry.
Relevant Provisions of the Partnership Agreement
Among other things, the partnership agreement provides as
follows:
The partnership will continue in existence until November
25, 2047 (the termination date), unless sooner terminated in
accordance with the terms of the partnership agreement. No
limited partner may withdraw his capital from the partnership
1 The partnership held certain marketable securities
indirectly through investment funds, including “open-end”
investment funds. We understand from the expert reports received
into evidence in this case that, although shares of open-end
investment funds are not themselves publicly traded, a holder
thereof generally can liquidate his investment at any time by
tendering his shares to the fund for repurchase at a price equal
to their pro rata share of the fund’s net asset value (NAV).
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Last modified: May 25, 2011