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BANK v. INTERNATIONAL BUSINESS MACHINES CORP.

No. 96-1355.

99 F.3d 46 (1996)

Michael D. BANK, Thomas M. Dusel and Robert J.M. O'Hare, Jr., in their capacity as trustees of 400 Wyman Street Trust, Plaintiffs, Appellees, v. INTERNATIONAL BUSINESS MACHINES CORPORATION, Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided November 5, 1996.

Attorney(s) appearing for the Case

J. Charles Mokriski with whom Kenneth E. Werner and Jonathan I. Handler, Boston, MA, were on brief, for defendant, appellant.

Saul A. Schapiro with whom David W. Rosenberg, Boston, MA, was on brief, for plaintiffs, appellees.

Before SELYA, Circuit Judge, COFFIN and CAMPBELL, Senior Circuit Judges.

COFFIN, Senior Circuit Judge.

The parties in this case — International Business Machines Corp. (IBM) and the 400 Wyman Street Trust (the Trust)1 — comprise a partnership created for the purpose of developing and operating an office building in Waltham, Massachusetts. The Trust secured an opportunity for the Partnership to reduce its debt by purchasing its own mortgage at a substantial discount. IBM opposed the deal. The issue...

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