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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 6.83
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Last modified: May 25, 2011