- 11 -
Loans Date Amount
Wire transfer --/--/79 $ 25,000
Checks 10/19/79 10,000
10/19/79 10,000
10/19/79 10,000
10/19/79 10,000
10/19/79 10,000
11/19/79 16,000
11/21/79 49,500
12/05/79 33,000
12/12/79 45,000
Third-party 08/06/79 364,000
loan proceeds 08/23/79 35,000
08/24/79 120,000
09/12/79 40,000
07/01/80 30,000
Miscellaneous 05/–-/79 30,000
loans 06/–-/79 3,900
Total $841,400
Petitioners have provided five canceled checks endorsed to
Pharmacare totaling $56,000. Petitioners have also provided
evidence of third-party loans made to petitioner and Vavlitis
jointly in the amounts of $364,000, $35,000, and $40,000.
Petitioners have shown that the proceeds from these loans were
contributed or reloaned to Pharmacare by petitioner and that the
loans were repaid with property of petitioner. With respect to
the remaining contested transactions, petitioners rely on a proof
of claim filed in the Pharmacare bankruptcy and dated April 28,
1982. Under the circumstances, we conclude that petitioners’
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011