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Cash Collateral in the Transactions at Issue ... 10
1. Pioneer Industries (Holdings) Ltd. and Its
Subsidiaries Multi-Credit Finance Co. Ltd.
and Mandalay Investments Ltd. ........ 10
2. Traveluck Investments, Inc. ......... 11
3. Double Wealth Co., Inc. ........... 12
4. Forward Investments, Ltd. .......... 12
D. Bangkok Bank Ltd. ................ 12
E. Union Bank and Certain of Its Affiliates ..... 14
F. Petitioner .................... 16
II. Transactions Involving Bangkok Bank Ltd. ........ 16
A. BB Loan No. 1 ................... 16
B. BB Loan No. 2 ................... 23
C. BB Loan No. 3 ................... 31
III. Transactions Involving Union Bank ........... 34
A. UB $570,000 Pre-March 1984 Loan
and UB $570,000 Renewed Loan . .......... 34
B. UB $325,000 Loan ................. 39
C. UB $800,000 Radcliffe Loan ............ 43
D. UB $1,300,000 Loan ................ 48
E. UB $1,830,000 Loan ................ 52
F. Facts Pertaining to All the Transactions
at Issue Involving Union Bank ........... 54
IV. Transaction Involving Horbury ............. 57
V. Income or Loss Reported by Radcliffe
and by BOT for the Years at Issue ........... 57
OPINION ........................... 58
I. Evidentiary Matters .................. 59
A. The Adverse Inference Rule--
Mme. Koo's Failure To Testify ........... 60
B. Evidentiary Objections .............. 71
1. Petitioner's Income Tax Returns ....... 71
2. Certain Instruments of Transfer
and Stock Certificates ............ 72
3. Horbury Financial Statement ......... 76
4. Annual Reports of Pioneer and
Financial Statements of Multi-Credit ..... 77
5. June 12, 1987 Newspaper Article ....... 78
6. August 28, 1987 Memorandum .......... 83
7. Paragraph 152 of the Stipulation of Facts .. 88
C. Respondent's Motion To Compel
Production of Documents .............. 88
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Last modified: May 25, 2011