- 186 -
Claude Ballard
1982 Beg. balance
Record trns Dec 1982 $160,400
Asgn Ballard ln to IFI (160,400)
Ending balance -0-
1983 Beg. balance -0-
TACI E ln for C. Ballard 500
Asgn to IFI ck 1120 (500)
Ending balance -0-
IRA's general ledger showed Int'l Films' receivable for 1982
as follows:
Int'l Films
1982 Beg. balance $70,200
Int'l Films 13,000
Int'l Films 4,000
Int'l Films-loan 1,250
Trans. thru Nov. 1982 7,130
Trans. thru Dec. 1982 5,465
Ballard loan asgn to Int'l Films 160,400
Ending balance 261,445
By the end of 1982, IRA had transferred $1,189,900 to HELO
that was recorded as a receivable owed to IRA by HELO.37 In 1983
HELO had $95,000 receivables owed to it from Lisle's Basking
Ridge Trust and $106,200 from Ballard's Summit Trust.38
In 1983, a transaction took place between IRA, the Bea Ritch
Trusts, Int'l Films, and HELO which had the effect of (1)
37
In 1983, HELO was a subsidiary of Holding Co. On Aug. 31,
1984, Kanter as trustee of the ARO Trusts became the owner of 100
percent of HELO's voting stock.
38
It is not clear from the record whether HELO made the
distributions to the Basking Ridge and Summit trusts during 1983
or at some earlier time.
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