-151-
activities occurred. Formby, Transcr. at 1548-1549, 1555; Exhs.
348, 351.
James, the president of MHM, could not identify a specific
person or entity who would have acted as a liaison between the
owners and operators of the hotel properties in question. James,
Transcr. at 1735-1737. James did not know that IRA and THC were
partners in Essex Partnership until he was shown the partnership
agreement at trial. James, Transcr. at 1734-1737.
There were no officers or employees at Essex Partnership who
could have engaged in consulting or acted as liaisons. Formby,
Transcr. at 1534-1535. Eulich had never seen the Essex
Partnership agreement or the consulting and fee agreements
between MHM or GHM and Essex Partnership. Eulich could not
explain the meaning of the phrase in article II of the Essex
Partnership agreement referring to Essex Partnership’s role as
“liaison intermediary between the owners and operators of hotel
properties”. Eulich, Transcr. at 1631-1634.
j. Transfer of IRA’s Essex Partnership Interest
On December 31, 1984, IRA transferred its 26.125-percent
Essex Partnership interest to Carlco, TMT, and BWK. Carlco and
TMT each received an 11.75-percent partnership interest in Essex,
while BWK received a 2.6125-percent partnership interest in
Essex. Exh. 69, at 16; Exh. 93, at 10; Exh. 114, at 6-7. Essex
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