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Petitioner claims an indebtedness of $4,962.95 owing to him by
Ms. Marshall arising from these two transactions.3 Shortly
after, on July 17, 1990, petitioner lent $10,000 to Ms. Marshall
for her share of a payment to the mortgage creditors on the 1000
Thompson Place property. Both the $4,962.95 and the $10,000
advances were unsecured obligations.
To date, Ms. Marshall has not made any payments on the
$38,000, the $10,000, and the $4,962.95 loans made to her by
petitioner. On August 6, 1990, Ms. Marshall filed a petition for
relief with the U.S. Bankruptcy Court for the Southern District
of Georgia, Savannah Division (Bankruptcy Court), under chapter
11 of the U.S. Bankruptcy Code. By order dated April 30, 1992,
the Bankruptcy Court decreed that petitioner held unsecured
claims of $10,000 and $4,962.95 against Ms. Marshall arising out
of the transactions described above. As to the $38,000 loan, the
3
The record is confusing as to how $4,962.95 is determined to
be the amount due petitioner. Since petitioner and Ms. Marshall
each owned a one-half interest in the 1000 Thompson Place
property, Ms. Marshall's share of the liability for the
delinquent mortgage payments would have been $2,481.47 (one-half
of $4,962.95). Since petitioner advanced $4,962.95, one-half of
this amount, or $2,481.47, would be considered as a debt owing to
petitioner by Ms. Marshall. Thereafter, when petitioner paid the
$4,962.95 directly to the mortgage creditors, that entire amount
would be considered as a debt owing by Ms. Marshall to
petitioner. Thus, it appears to the Court that these events
would indicate an indebtedness of $7,444.42 owing by Ms. Marshall
to petitioner ($2,481.47 plus $4,962.95). The Court surmises
that an accounting of some sort occurred between petitioner and
Ms. Marshall so that the indebtedness owing by her to petitioner
was fixed at $4,962.95.
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