Stephen F. Scofield and Nancy E. Scofield - Page 7

          nominee to receive and hold Northeast's assets.  Norkevicius was            
          a vice president of the bank.  For purposes of distributing the             
          remaining assets of Northeast, Northeast's creditors agreed, in             
          August 1980, that Norkevicius would distribute money that she               
          recovered as follows:  the first $200,000 was to be distributed             
          to the bank, and the next $1.6 million was to be given 50 percent           
          to the bank and 50 percent to the other parties.  This agreement            
          was based on how much Northeast owed to each party.  Norkevicius            
          had collected $726,000 when the agreement was signed.                       
          D.   Calta, Inc.                                                            
               After Northeast and Sigma collapsed, petitioner began                  
          working for a company that Mrs. Scofield had formed called Calta,           
          Inc. (Calta), a Massachusetts corporation.  Calta was in the                
          printing business.  When petitioners moved to New Hampshire in              
          1981, she reincorporated Calta in New Hampshire.  Petitioner                
          worked for Calta from 1981 to 1983 and received a salary of about           
          $5,000 a month.                                                             
          E.   Petitioner's Litigation Relating to Northeast                          
               Petitioner incurred legal expenses as a defendant in                   
          lawsuits brought by the bank, Northeast, CNI, Zayre, and                    
          Norkevicius (as nominee), and in related bankruptcy proceedings.            
               1.   Petitioner's State Court Proceedings                              
               On June 12, 1982, the bank, Northeast, CNI, Zayre, and                 
          Norkevicius (as nominee), sued McKee, petitioner, Timothy Samway,           
          Robert E. Davis, Francoise Sterling, Sigma, and Wingfoot in the             

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