Edidin v. Detroit Economic Growth Corp.

This case arose from efforts to secure additional financing for a development project to renovate and lease five buildings in Detroit known as "Trappers Alley”. Among the original financial backers of the project was defendant Detroit Economic Growth Corporation (DEGC). Seeking a method to attract additional funds for the financially troubled project, DEGC contacted a group of investors, including plaintiff Gary Edidin. Edidin and Farbman/Stein & Company formed a partnership known as "Trappers Associates”; plaintiffs concede that the proposed limited partnership to be known as "Trappers Alley…