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In re Economou, 362 B.R. 893 (Bkrtcy N.D. Ill. 2007)

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Ft. Myers Historic Limited Partnership ("Ft. Myers") was formed to develop historic property in Ft. Myers Florida.  Napico, through it's affiliates, made a cash investment in Ft. Myers in return for historic renovation tax credits Ft. Myers was eligible to receive.  The Partnership and Investment Agreements between Napico's affiliates and the general partner of Ft. Myers required the general partner to meet certain benchmarks.  When the general partner defaulted on it's obligations, and the personal guarantor declared bankruptcy, Novack and Macey sought to have the guarantor denied a discharge in bankruptcy on the grounds of, among other things, actual fraud.  In connection with this effort, we were able to pierce the debtor's attorney-client privilege using the crime-fraud exception.  Shortly after winning on this issue, we obtained a favorable settlement for our client. 

  
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