[Federal Register Volume 62, Number 239 (Friday, December 12, 1997)]
[Notices]
[Pages 65457-65458]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32488]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 22928; 811-5280]
Partner Wealth Fund I, L.P.; Notice of Application
December 5, 1997.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of application for order under section 8(f) of the
Investment Company Act of 1940 (the ``Act'') declaring that applicant
has ceased to be an investment company.
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SUMMARY OF APPLICATION: Applicant, Partner Wealth Fund I, L.P., is an
employees' securities company under section 2(a)(13) of the Act.
Applicant requests an order declaring that it has ceased to be an
investment company.
FILING DATES: The application was filed on November 19, 1997. Applicant
has agreed to file an amendment, the substance of which is incorporated
in this notice, during the notice period.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the SEC orders a hearing. Interested persons may
request a hearing by writing to the SEC's Secretary and serving
applicant with a copy of the request, personally or by mail. Hearing
requests should be received by the SEC by 5:30 p.m. on December 30,
1997, and should be accompanied by proof of service on the applicant,
in the form of an affidavit or, for lawyers, a certificate of service.
Hearing requests should state the nature of the writer's interest, the
reason for the request, and the issues contested. Persons may request
notification of a hearing by writing to the SEC's Secretary.
ADDRESSES: Secretary, SEC, 450 Fifth Street, N.W., Washington, D.C.
20549. Applicant, 333 Clay Street, Suite 2300, Houston, TX 77002.
FOR FURTHER INFORMATION CONTACT:
Kathleen L. Knisely, Staff Attorney, at (202) 942-0517 (Division of
Investment Management, Office of Investment Company Regulation).
SUPPLEMENTARY INFORMATION: This is a summary of the application. The
complete application may be obtained for a fee from the SEC's Public
Reference Branch, 450 Fifth Street, N.W., Washington, D.C. 20549 (tel.
202-942-8090).
Applicant's Representations
1. Applicant is a Delaware limited partnership and an employees'
securities company under section 2(a)(13) of the Act. On July 21, 1987,
applicant received an order from the SEC exempting applicant from
various provisions of the Act.\1\ On August 13, 1987, applicant filed a
notification of registration on Form N-8A.
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\1\ Investment Company Act Release Nos. 15824 (notice) (June 24,
1987) and (July 21, 1987) (order).
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2. Under applicant's limited partners have received distributions
at least
[[Page 65458]]
equal to each partner's respective investment in applicant. On October
2, 1996, the board of directors of Touche Holdings, Inc., applicant's
general partner (the ``General Partner''), met and approved the sale of
substantially all of applicant's assets.\2\ On November 4, 1996,
applicant's liabilities exceeded its assets and applicant sold
substantially all of its assets in exchange for cash and a promissory
note which applicant then transferred together with its other assets to
Deloitte & Touche USA LLP (``D&T''), the parent of applicant's General
Partner, in partial satisfaction of a promissory note previously issued
by applicant to D&T. D&T forgave a portion of the note not satisfied by
the assets received from applicant.
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\2\ Under applicant's limited partnership agreement the General
Partner has sole discretion to affect the liquidation and need not
obtain the consent of the limited partners.
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3. D&T is assuming all administrative and legal expenses in
connection with the liquidation of applicant. Such expenses are
estimated at $15,000.
4. As of the date of the application, applicant had no outstanding
security-holders to whom any distributions were due. Applicant also had
no liabilities, or assets, and was not a party to any litigation or
administrative proceeding. Applicant is not engaged, nor does it
propose to engage, in any business activities other than those
necessary for the winding up of its affairs.
For the Commission, by the Division of Investment Management,
under delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 97-32488 Filed 12-11-97; 8:45 am]
BILLING CODE 8010-01-M
