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Petitioner is an Oregon corporation incorporated in 1963.
Since its incorporation, petitioner's president, Richard Mann,
has always owned 70 percent of petitioner's stock; Alice Mann
(Richard Mann's wife) has always owned the remaining 30 percent.
As its name suggests, petitioner is in the construction
business. Petitioner has completed construction projects in the
$1 to $7 million range, including projects on military bases and
in national parks.
During most of the 1980's and early 1990's, petitioner's
business was depressed. From May 1980 through June 1984,
petitioner bid on construction projects throughout the western
United States, but did not obtain any contracts. Petitioner did
obtain contracts for construction projects after June 1984, but
it continued to suffer from the economic downturn in the
construction industry, and most of its employees had to find
other jobs.
Shortly after petitioner's difficulties began--in or about
1981--petitioner started advancing funds to Richard and Alice
Mann's son, Mark Mann. Richard Mann believed these advances,
which Mark Mann used to pay his basic living expenses, were
necessary to ensure that petitioner would always have an
experienced construction superintendent available during the
business downturn. During that period, Mark Mann did work for
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