- 7 - Mr. Fisher first learned that the decedent had lung cancer in October 1989 during a meeting with Mr. Christopher Bosca and the decedent. In February 1990, Mr. Fisher learned that the decedent's cancer was terminal. During a meeting with Mr. Fisher on October 17, 1989, the decedent asked Mr. Fisher for advice about transferring voting control of HBC to his sons, Mr. Christopher Bosca and Mr. Anthony Bosca. Mr. Fisher recommended a plan of recapitalization. In February 1990, Mr. Fisher spoke to all four members of the Bosca family about the recapitalization plan. Ms. Marie Baker's Transfers of Stock in 1989 On January 2, 1989, Ms. Baker transferred 55 of her 402.5 shares of HBC's voting common stock to each of her two sons. The parties to these cases agree that the fair market value of each share of HBC stock at that time was $8,708. Accordingly, Ms. Baker transferred HBC stock worth $478,940 (55 shares of stock x $8,708) to each son. After the transfers, HBC's stock was owned as follows: Voting Shareholders Common Stock Percent Decedent 402.5 50.00 Marie Baker 292.5 36.34 Anthony Bosca 55.0 6.83 Christopher Bosca 55.0 6.83Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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