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Aubin's estate tax return, this distribution had a value of
$303 per share for a total of $189,072 per block at the
time of his death in 1967.
Prior to Mr. de St. Aubin's death, there developed
friction between his immediate family and that of his
sister, Ms. O'Hayer. As a result of this ongoing friction,
decedent's husband had been attempting to attain 100
percent St. Aubin control of Vesta Corp. and Vesta
Underwear. At the time of his death, litigation was
pending between Mr. de St. Aubin and Ms. O'Hayer regarding
the ownership of the remaining 4 percent of the common
stock of Vesta Corp. and regarding certain actions taken
by Mr. de St. Aubin as trustee of the trust established by
their father. In 1969, in settlement of this litigation,
Mr. de St. Aubin's family and his estate caused Vesta
Underwear to redeem the 48 percent of its common stock
owned by the O'Hayer family. After elimination of the
O'Hayer interest, the estate was the sole owner of Vesta
Underwear common stock. Vesta Underwear also purchased
the 48 percent of Vesta Corp. common stock owned by the
O'Hayers.
Simultaneously with the above redemption and purchase
by Vesta Underwear, Pohatcong Hosiery purchased the O'Hayer
shares of Vesta Corp. preferred stock and Vesta Underwear
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