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FINDINGS OF FACT3
Some of the facts have been stipulated and are so found
unless otherwise stated herein.4
At the time the petitions were filed, petitioner resided in
Hong Kong, British Crown Colony.
I. General and Background
A. Radcliffe
Radcliffe, which was incorporated in Liberia around 1979 and
conducted business in California during the years at issue, was
organized to invest in New Montgomery South Center (NMSC) in San
Francisco, California (San Francisco). As of January 1984,
Radcliffe held a 75-percent interest in NMSC. Radcliffe acquired
an additional 13-percent interest in NMSC for $1,300,000 in
3 We found the record in these cases to have been poorly devel-
oped, inconclusive, and/or not reliable in many respects, includ-
ing certain material respects. Although the gaps in the evidence
are substantial in many instances, and therefore our findings of
fact are incomplete in those respects, we have not undertaken to
note every instance in which the record does not contain reliable
evidence that would have enabled us to find all the facts rele-
vant to our deciding the issues presented. Our task in the face
of such a record has been further complicated by the parties'
failure to reflect fully the facts that are reliably established
by the record and their attempt (particularly petitioner's
attempt) to support their respective positions herein by relying
on so-called facts that are alleged in their briefs but that are
not supported by credible evidence in the record. Statements in
briefs are not evidence, Rule 143(b), and we have attached no
weight to the parties' allegations on brief that are not sup-
ported by reliable evidence in the record.
4 Each party objected to certain stipulations of fact (stipul-
ations) on grounds of relevancy and/or hearsay. We address those
objections below.
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