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(Premiere), Homeowners Direct Co. (Homeowners), and La Terra Real
Estate (La Terra), d.b.a. Soldi Real Estate Co. (Soldi).
La Terra was a Michigan corporation owned by petitioner husband,
Anthony Duronio, and Joseph Ancona. Petitioner husband owned
one-third of La Terra's stock. La Terra's shareholders and
nonshareholder employees earned commissions from real estate
sales. Each salesperson contributed his or her share of expenses
to La Terra. LaTerra's shareholders did not share equally in La
Terra's income and were not paid for being shareholders or
officers. La Terra leased an office at 38600 Van Dyke, Sterling
Heights, Michigan.
On February 7, 1989, petitioner husband incorporated
Premiere in Nevada. Petitioner husband was the president of
Premiere.
On April 7, 1989, petitioner husband incorporated Canta in
Delaware. Petitioner husband was the president, and petitioner
wife was the secretary of Canta.
Petitioner husband sold $42,400 of real property in 1989.
3. Petitioner Husband's Bankruptcy
On December 2, 1987, petitioner husband filed for bankruptcy
under chapter 7 of the U.S. Bankruptcy Code in the U.S.
Bankruptcy Court for the Eastern District of Michigan.
Petitioner husband was granted a discharge under chapter 7 on
March 9, 1988. Petitioner husband's creditors pressed him for
payment, both before and after his discharge in bankruptcy.
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