1
 In a last-ditch effort 
5001
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2
to keep its sales force and customer base, 
1
elaboration-object-attribute-e

3
Integrated Resources Inc. said 
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it agreed in principle to transfer ownership of its broker-dealer subsidiary to two of its top executives.
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span

5
 The financial-services firm, 
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6
struggling since summer to avoid a bankruptcy-law filing 
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7
after missing interest payments on about $1 billion of debt, 
6
temporal-after

8
will retain the right
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 to regain the subsidiary.
8
elaboration-object-attribute-e

10
 It said 
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attribution

11
it will exercise that right 
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only if it sells substantially all of its other core businesses.
11
condition

13
 It also can sell the right 
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14
to regain the subsidiary 
13
elaboration-object-attribute-e

15
to another party.
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 Also, the broker-dealer subsidiary, Integrated Resources Equity Corp., was renamed Royal Alliance Associates Inc. 
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Because of Integrated's widely reported troubles, 
18
reason

18
the unit's representatives had been requesting a name change.
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 Royal Alliance, 
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to which the 3,900 representatives' licenses will be transferred, 
19
elaboration-additional-e

21
is a shell company 
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Integrated owns.
21
elaboration-object-attribute-e

23
 In the transaction, Integrated will transfer 100% ownership of the subsidiary to Gerard M. Lavin, executive vice president of Integrated and head of back-office operations at the subsidiary, and Gary W. Krat, executive vice president of the parent and president of the subsidiary.
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24
 Integrated will pump $3.5 million to $4 million into Royal Alliance as initial funding.
23
elaboration-additional

25
 In an interview, Mr. Krat said 
5029
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26
that 
5027
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based on criteria 
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yet to be determined, 
27
elaboration-object-attribute-e

29
he expects to distribute 49% of Royal Alliance to the representatives, 
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who sell Integrated's insurance and mutual-fund products. 
29
elaboration-additional-e

31
If Integrated regains Royal Alliance, 
32
condition

32
the representatives will retain their 49% ownership.
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33
 Mr. Krat indicated 
5035
attribution

34
that completion of the transaction could take several weeks,
5035
List

35
 and it wasn't immediately clear what would happen to the broker-dealer subsidiary 
5034
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36
if Integrated files for bankruptcy-law protection in the meantime. 
35
condition

37
 The subsidiary isn't expected to be profitable for at least one year.
5044
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38
 If Integrated regains the unit,
5038
condition

39
 it would receive any profit 
5038
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40
the unit reports, 
39
elaboration-object-attribute-e

41
even while the unit is independent.
5037
temporal-same-time

42
 If the deal closes, 
43
condition

43
the two officers will draw salaries from the independent operation, not from Integrated.
5040
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44
 Many aspects of the agreement were worked out Wednesday in Chicago, 
5045
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45
when Integrated senior managers met with about 150 representatives.
44
temporal-same-time

46
 I think 
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attribution

47
it was something 
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48
that 
5048
span

49
we and they thought
48
attribution-e

50
 was constructive, 
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51
said Stephen D. Weinroth, chairman and co-chief executive officer of Integrated. 
5047
attribution

52
 Integrated made its announcement 
5052
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53
after the market closed.
52
temporal-after

54
 In New York Stock Exchange Composite trading, Integrated shares closed at $1.125, up 12.5 cents.
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circumstance

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background

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elaboration-general-specific

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elaboration-general-specific

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multinuc
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elaboration-additional

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elaboration-additional

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List

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multinuc
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hypothetical

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consequence-s

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elaboration-object-attribute-e

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evaluation-s

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comment

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