- 21 -
1. Transfers Directly to Mr. Fisher
Except for the $40,016.22 previously allowed by respondent,
the only retransfer of property that petitioners made directly to
Mr. Fisher was the $2,500 check dated August 11, 1992.
Respondent acted to collect from petitioners when the notice of
transferee liability was issued on July 7, 1994. Because the
$2,500 payment occurred before July 7, 1994, we find that the
amount of transferee liability asserted by respondent should be
reduced to the extent of $2,500.18
2. Transfers to Mr. Fisher's Creditors
Petitioners contend that the remaining transfers of cash to
Ameritrust Co. National Association, Mr. Randolph, and Mr.
Brown,19 and the transfer of the two parcels to the United States
18Respondent contends that petitioners and Mr. Fisher
conspired to defraud Mr. Fisher's creditors. In Gobins v.
Commissioner, 18 T.C. 1159, 1174 (1952), affd. 217 F.2d 952 (9th
Cir. 1954), we noted that in certain cases it is possible that
retransfers "might be the result of collusion between the parties
and made in such manner that it also would be in fraud of
creditors." Despite the fact that Mr. Fisher and petitioners
were closely related, there is no evidence of collusion on the
part of petitioners with regard to the retransfer of $2,500 on
Aug. 11, 1992.
19Petitioners do not identify the respective relationships
of these payees to Mr. Fisher or the purposes of these payments.
However, respondent identified the payees, Mr. Randolph and Mr.
Brown, as Mr. Fisher's attorneys. Respondent also identified the
payee, Ameritrust Co. National Association, as a creditor of Mr.
Fisher; however, there is nothing in the record that would
(continued...)
Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 NextLast modified: May 25, 2011