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Mr. Kabeiseman did not have any discussions with petitioner
regarding the respective outstanding principal balances of the
Kabeiseman loans on or after January 18, 1990, and on or after
February 7, 1990, the approximate respective dates on which Mr.
Kabeiseman expected repayment of those loans. That was because
Mr. Kabeiseman was preoccupied during 1990 with the financial
problems that K & H was encountering. During 1990, no identifi-
able event occurred that made it clear that petitioner never
would repay the respective outstanding balances of the Kabeiseman
loans.
The Lawsuit Filed Against
Petitioner by Mr. Kabeiseman
During 1990, after petitioner ceased to be actively involved
in the operations of K & H, a dispute arose between petitioner
and Mr. Kabeiseman regarding certain moneys that petitioner
allegedly owed Mr. Kabeiseman as petitioner's share of K & H
expenditures that Mr. Kabeiseman had paid. Sometime thereafter,
Mr. Kabeiseman retained the services of an attorney and insti-
tuted a lawsuit against petitioner regarding that dispute (law-
suit). In the complaint that Mr. Kabeiseman filed against
petitioner, Mr. Kabeiseman requested that a judgment of
$47,353.67 be entered against petitioner. In that complaint, Mr.
Kabeiseman alleged that that amount represented petitioner's
share of the following approximate amounts of K & H expenditures
that Mr. Kabeiseman had paid: (1) $49,905 that Mr. Kabeiseman
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