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GGD-95-180R 1 (1995-08-03)

handle is hein.gao/gaobackxa0001 and id is 1 raw text is: 



             United States
GAO          General Accounting Office
             Washington, D.C. 20548

             General Government Division



             B-259989

             August 3, 1995

             The Honorable Alfonse M. D'Amato
             Chairman
             The Honorable Paul S. Sarbanes
             Ranking Minority Member
             Committee on Banking, Housing
               and Urban Affairs
             United States Senate

             The Honorable Thomas J. Bliley, Jr.
             Chairman
             The Honorable John D. Dingell
             Ranking Minority Member
             Committee on Commerce
             House of Representatives

             The Honorable Jim Leach
             Chairman
             The Honorable Henry B. Gonzalez
             Ranking Minority Member
             Committee on Banking and
               Financial Services
             House of Representatives



             This letter responds to the requirement of the Limited
             Partnership Rollup Reform Act of 1993 (Title III of Public
             Law 103-202, December 17, 1993) that we study the use of
             fairness opinions in limited partnership rollups. The act
             was intended to curb abusive practices and provide enhanced
             investor protection in limited partnership rollup
             transactions.' The act required us to report within 18



             'Abuses in rollup transactions that occurred before the act
             passed in December 1993 were documented in Senate Report
             103-121, Limited Partnership Rollup Reform Act of 1993,
             August 3, 1993, and House of Representatives Report 103-21,
             Limited Partnership Rollup Reform Act of 1993, February 25,
             1993.

             1                 GAO/GGD-95-180R Limited Partnership Rollups



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