EX-2.7 2 0002.txt EXHIBIT 2.7 IN THE UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA CASE NO. 98-8030-CIV-HURLEY ------------------------------ LEONARD ROSENBLUM, J/B INVESTMENT PARTNERS, SMALL AND REBECCA BARMACK, PARTNERS, BARBARA HALL, HENRY R. GRAHAM, ANNE R. GRAHAM, MARGO CORTELL, PATRICK M. RHODES, BERNICE M. HUELS, GARRETT N. VOIGHT, CLAIRE E. FULCHER, MARCELLA LEVY, RICHARD HODGSON, CITY PARTNERSHIPS, HELMAN PARSONS AND CLEVA PARSONS, on behalf of themselves and all others similarly situated and derivatively on behalf of the Nominal Defendants, Plaintiffs, vs. EQUIS FINANCIAL GROUP LIMITED PARTNERSHIP, a Massachusetts, Limited Partnership, EQUIS CORPORATION, a Massachusetts Corporation, GDE ACQUISITION LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AFG LEASING INCORPORATED, a Massachusetts Corporation, AFG LEASING IV INCORPORATED, a Massachusetts Corporation, AFG LEASING VI INCORPORATED, a Massachusetts Corporation, AFG AIRCRAFT MANAGEMENT CORPORATION, a Massachusetts Corporation, AFG ASIT CORPORATION, a Massachusetts Corporation, AF/AIP PROGRAMS LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, GARY D. ENGLE and GEOFFREY A. MACDONALD, Defendants, AIRFUND I INTERNATIONAL LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AIRFUND II INTERNATIONAL LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME 4 LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME 5 LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME 6 LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME 7 LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME 8 LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS III-A LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS III B LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS III-C LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS III-D LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS IV-A LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS IV-B-LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS IV-C LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS IV-D LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS V-A LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS V-B LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS V-C LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME PARTNERS V-D LIMITED PARTNERSHIP, a Massachusetts Limited Partnership, AMERICAN INCOME FUND I-B, a Massachusetts Limited Partnership, AMERICAN INCOME FUND I-C, a Massachusetts Limited Partnership, AFG INVESTMENT TRUST, a Delaware business trust, AFG INVESTMENT TRUST B, a Delaware business trust, AFG INVESTMENT TRUST C, a Delaware business trust, and AFG INVESTMENT TRUST D, a Delaware business trust, Nominal Defendants. ------------------------------ PROPOSED ORDER GRANTING JOINT MOTION TO CONTINUE FINAL APPROVAL SETTLEMENT HEARING THIS CAUSE came before the Court upon the Parties' Joint Motion to Continue Final Approval Settlement Hearing and to Schedule Rule 16 Status Conference. The Court, having reviewed the Motion, conducted a hearing and being otherwise fully advised of the premises, does thereupon: ORDER AND ADJUDGE THAT: 1. By no later than May 15, 2001, the parties shall advise the Court (a) whether the United States Securities and Exchange Commission ("SEC") has completed its review of certain filings submitted thereto in connection with the proposed settlement of the captioned action, and (b) whether the parties request the Court to schedule a hearing for final approval of the proposed settlement or are withdrawing the proposed settlement from judicial consideration and resuming the litigation of plaintiffs' claims. 2. The parties are directed to use their best efforts to assist the SEC so that its regulatory review may be completed on or before May 15, 2001. 3. The Final Approval Settlement Hearing is continued and will be scheduled for a date in July 2001 that will be determined by the Court following its receipt of the request to schedule a hearing that is described in paragraph 1 above. 1 DONE AND ORDERED, in Chambers, at West Palm Beach County, Florida, this 12th day of March, 2001. /s/ DANIEL T.K. HURLEY --------------------------- United States District Judge Daniel T.K. Hurley Copies furnished. To All Parties Listed on Attached Service List 2 SERVICE LIST LOCAL COUNSEL FOR PLAINTIFFS: LEAD COUNSEL FOR PLAINTIFFS: LAW OFFICES OF ALLAN M. LERNER WECHSLER HARWOOD Allan M. Lerner, Esquire HALEBIAN & FEFFER LLP 2888 East Oakland Park Blvd Andrew D. Friedman, Esq. Ft. Lauderdale, FL 33306 488 Madison Avenue, 8th Floor (954) 563-8111 New York, NY 10022 (954) 563-8522 (212) 935-7400 (212) 753-3630 FAX ATTORNEYS FOR VARIOUS PLAINTIFFS: LASKY & RIFKIND, LTD. THOMAS A. HOADLEY, P.A. Leigh Lasky, Esq. Thomas A. Hoadley, Esq. 11 South LaSalle Street 310 Australian Avenue Chicago, IL 60603 Palm Beach, FL 33480 (312) 634-0057 (561) 792-9006 (312) 634-0059 FAX (561) 835-9527 FAX LAW OFFICES OF LIONEL Z. GLANCY GILMAN AND PASTOR, L.L.P. Lionel Z. Glancy, Esq. Peter A. Lagorio, Esq. 1801 Avenue of the Stars Stonehill Corporate Center Suite 30B 999 Broadway, Suite 500 Los Angeles, CA 90067 Saugus, MA 01906 (310) 201-9150 (781) 231-7850 (310) 201-9160 FAX GOODKIND LABATON RUDOFF HAROLD B. OBSTFELD, P.C. & SUCHAROW LLP Harold B. Obstfeld, Esq. 260 Madison Avenue Lynda J. Grant, Esq. New York, NY 10116 100 Park Avenue (212) 696-0057 New York, NY 10017 (212) 679-8998 FAX (212) 907-0700 (212) 818-0477 FAX LAW OFFICES OF JAMES V. BASHIAN James V. Bashian, Esq. 500 Fifth Avenue, Suite 2730 New York, NY 10110 (212) 921-4110 (212) 921-4249 FAX 3 ATTORNEYS FOR PLAINTIFFS J/B INVESTMENT PARTNERS AND SMALL AND REBECCA BARMACK PARTNERS: LAW OFFICES OF VINCENT T. GRESHAM Vincent T. Gresham, Esq. 6065 Roswell Road, Suite 1445 Atlanta, GA 30328 (770) 552-5270 (770) 552-5279 FAX HAWKINS & PARNELL Albert H. Parnell, Esq. 4000 Suntrust Plaza 202 Peachtree Street, N.W. Atlanta, GA 30308 (404) 614-7400 (404) 614-7500 FAX BENJAMIN S. SCHWARTZ, CHARTERED Benjamin S. Schwartz, Esq. 4600 Olympic Way Evergreen, CO 80439 (303) 670-5941 (303) 670-3871 FAX ATTORNEYS FOR DEFENDANTS: RICHMAD, GREER, WEIL, BRUMBAUGH, MIRABITO & CHRISTENSEN, P.A. Gerald F. Richman, Esq. One Clearlake Centre 250 Australian Avenue South Suite 1504 W. Palm Beach, FL 33401 (561) 803-3500 (561) 820-1608 FAX NIXON PEABODY LLP Deborah L. Thaxter, P.C. 101 Federal Street Boston, MA 02110-1832 (617) 345-1000 (617) 345-1300 4