Newsletter 151

Return to Lawsuit Index

PROSKAUER ROSE LLP
Dale A. Schreiber (DS-9211)
Bruce E. Fader (BF-5564)
Allison B. Feld (AF-9464)
1585 Broadway
New York, NY 10036
(212) 969-3000 Attorneys for Plaintiff

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK



--------------------------------------x


BLEECKER CHARLES COMPANY,             :       00 Civ. 7827 (GEL)

                         Plaintiff,   :
                                              REPLY DECLARATION
             -against-                :       KENNETH B. NEWMAN

350 BLEECKER STREET APARTMENT         :
CORPORATION,
                                      :
                         Defendant,
                                      :
             -against-
                                      :
BLEECKER PARKING CORP.,
                                      :
 Additional Counterclaim Defendant.
                                      :
--------------------------------------x

STATE OF NEW YORK   )
                         s.s.:
COUNTY OF NEW YORK  )

KENNETH B. NEWMAN, being duly sworn, states:

1. I am the liquidating partner of Bleecker Charles Company ("the Sponsor"), a New York limited partnership, with almost 100 partners, and the prevailing plaintiff in this action. I submit this affidavit in further support of the Sponsor's motion under Rule 54(d)(2) for an order under 15 U.S.C. §361l(d) awarding it the fees, disbursements and other charges actually paid, or currently owed, to the law firm Proskauer Rose LLP ("Proskauer") and paid to the accounting firm Hayes & Company ("Hayes").

2. In the fall of 2001, the entire slate of directors for the Co-op's Board of Directors ("the Board") was up for re-election. During the re-election campaign the then current Board took the position that the Co-op should continue litigating this motion and it could finance this pursuit.

3. On November 13, 2001, I attended the annual shareholders' meeting for 350 Bleecker Street Apartment Corporation. At that meeting, the then current Board informed the shareholders that the Co-op had arranged to obtain a loan of up to $500,000 at 6% interest specifically to cover the Sponsor's legal fees. The Board announced that a loan of $100,000 would result in a per year tax-deductible interest of $34.84 for a 100-share unit owner. This announcement was later published in the Co-op's newsletter. (Annexed hereto as Exhibit A, is a true and correct copy of the Co-op's newsletter, dated November 19, 2001, reprinting this announcement).

/s/ Kenneth B. Newman
Kenneth B. Newman

Sworn to me on this
11th of March 2002

/s/ Shirley N. Lomanto
SHIRLEY N. LOMANTO
NOTARY PUBLIC, State of New York
Qualified in Nassau County
Commission Expires May 31, 2003.

Exhibit A

Exhibit A is Newsletter 145 from this website.

Return to Lawsuit Index