Richard: 

It was another great deposition day for the plaintiffs.? The high point was 
an audio taped phone conversation of Max Holmes' calling Stickler a liar.? A 
more detailed report is attached.

Frankly, I don't think McDonald and NatWest can let this case go to trial.? 
They will almost surely lose, and lose big, and PaineWebber could be drawn in 
too.? I think I will make a renewed pitch to Bruce MacLeod (Farallon's lawyer 
here this week) to let ECT out.? I will keep you posted.

Steve 

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