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McFARLAND v. GREGORY

No. 220, Docket 30781.

373 F.2d 393 (1967)

Walter P. McFARLAND, Edward P. Johnson and John Loughran, Plaintiffs-Appellants-Appellees, v. George S. GREGORY, Alexander Westreich, N. V. Handelmaatschappij Antilia, Sol Drescher and Louis Rosenberg, Defendants-Appellees-Appellants.

United States Court of Appeals Second Circuit.

Decided February 24, 1967.

Attorney(s) appearing for the Case

Arthur S. Friedman, New York City, (Tanner & Friedman, New York City, and Williams, Wadden & Stein, Washington, D. C., on the brief), for plaintiffs-appellants-appellees.

Simon H. Rifkind, New York City, (William Rand, Gerald D. Stern, Stephen Sayre Singer, Coudert Brothers, New York City, on the brief), for defendants-appellees-appellants.

Before LUMBARD, Chief Judge, and FRIENDLY and HAYS, Circuit Judges.

LUMBARD, Chief Judge.

Plaintiffs (the McFarland Group) and defendants (the Gregory Group) cross-appeal from two judgments of Judge Dimock in the Southern District of New York, entered February 25 and June 30, 1966, which (1) granted the McFarland Group a refund of $700,088 of the purchase price of four apartment buildings and leaseholds, (2) denied it the balance of approximately $450,000 in the "replacement funds" for the buildings, and

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