Srichai and Pusadee Rungrangsi - Page 11

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               Ms. Eagatatt explained that she lent petitioners proceeds from         
          the equity in her house because she was a friend of petitioners and         
          wanted to help petitioners with their business.  At the time of the         
          loan (for the purchase of the minimarket), Ms. Eagatatt was not             
          aware that her house might be foreclosed upon if petitioners failed         
          to repay.  It was only later that Ms. Eagatatt discovered that she          
          had no security if petitioners failed to make payments to Ms.               
          Eagatatt's bank lender, so she asked petitioners to place the               
          restaurant in her name.  Thus, the purpose of placing the                   
          restaurant in Ms. Eagatatt's name was to give her a security                
          interest in the restaurant's assets, and nothing more:                      
                    Q.  And when you signed the document, Exhibit 25-Y                
               [the bulk sale notice], what was your intent?                          
                    A.  Just want to be the name in the restaurant.                   
                    Q.  Did you intend to buy the restaurant?                         
                    A.  I wanted the restaurant to be under my name, and              
               I don't know how to do the restaurant.  That's the only                
               thing I want, the name under the restaurant.                           
          *       *       *       *       *       *       *                           
                    Q.  If the business was sold [to a third party] for               
               more than $94,000 [the outstanding balance of Ms.                      
               Eagatatt's home equity loan on September 15, 1993], did                
               you expect to receive that full amount or just $94,000?                
                    A.  Just for the equity--the equity loan, and that's              
          *       *       *       *       *       *       *                           
                    Q.  And who would get the proceeds that exceeded the              

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