Under the dissolution and termination plan, the general partners will contribute certain cash amounts to the partnership as required by the partnership agreement. Also, creditors will be paid off, and the partnership will distribute the remaining cash to holders of partnership units. As part of the plan, no transfers of partnership units will be allowed if not received by GSI's transfer agent by March 17, 2005.
At one time, GSI owned a string of extended-stay hotel properties in several states. It currently has about 4,000 unit holders and has no assets other than cash.
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