SUSMAN GODFREY A RCOI CCCCC 0 UNITES LIABILITY PARTNERSHIP SUITE 5 100 1000 LOUISIANA STREET < a HOUSTON, 02-5096 I FAX Sun 5100 SUM 950 SURE 3500 I trm meow 001 Mum STREET 1901 AVIIMIt OI mit START I ZO I 1111140 AveNue 1-3000 560 MONCTON AVOKIL DALt„b LOS ANCICLUMIllei .6020 NEW YOA1C 2-643E5 STEPHE DIRECT DIAL I February 14, 2011 VIA EMAIL The Honorable Anthony J. Carpinello JAMS 620 Eighth Avenue, 34th Floor New York, NY 10018 DIR E44Ala Re: FORTRESS VERF I LLC and FORTRESS VALUE RECOVERY vs. JEEPERS, INC. JAMS Ref. No.: 1425006537 Dear Judge Carpinello: Financial Trust Company, Inc. and Jeepers, Inc. (collectively "FTC") submit this letter requesting permission to take the deposition of Perry Gruss. As Your Honor is aware, this dispute centers on FTC's effort to withdraw its investment in a hedge fund run by Daniel Zwim, called D.B. Zwim Special Opportunities Fund, L.P. ("Fund"). As the former Chief Financial Officer of Zwim's management company, Gruss is a critical witness to this dispute. In October 2006, Zwim informed FTC that Gruss had been fired for permitting certain improper financial transactions to occur, and subsequently, that additional improprieties had surfaced after Gruss's termination. In response, FTC demanded a withdrawal of its entire capital account in the Fund, which was worth an estimated $130 million at the time. After numerous discussions, on November 13, 2006, Zwim and the Fund persuaded FTC to agree to reduce FTC's withdrawal to $80 million. In March 2007, the Fund reneged in writing on its agreement to honor FTC's reduced $80 million withdrawal, claiming for the first time that under a Letter Agreement between the Fund and FTC dated January 1, 2005 ("Letter Agreement"), FTC only had a right to make a complete withdrawal of its capital account, and had no right to make the partial withdrawal of $80 million. In other words, the Fund now claimed that had FTC not reduced its withdrawal r