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(g) The Respondent erred in treating the
redemption of the stock of PCAB owned by the Petitioner
as a gift since the redemption was free of donative
intent.
(h) The Respondent erred by determining that
the redemption of the Petitioner’s PCAB stock was a
gift since the fraudulent inducement described in
subparagraph (e) constituted a theft of the
Petitioner’s PCAB stock.
(i) The Respondent erred by determining that
the stock of PCAB owned by the Petitioner had a fair
market value of $8,056,000 as of May 1, 1987.
(j) The Respondent erred by determining that
the transfer of the stock of PCAB owned by the
Petitioner was for less than adequate and full
consideration.
(k) The Respondent erred by determining that
the Petitioner made a gift of $5,056,000 to Nick
Maggos.
5. The facts upon which the Petitioner relies as
a basis of her case are as follows:
* * * * * * *
(b) At all relevant times herein prior to
May of 1987, the Petitioner was the owner and/or
beneficial owner of approximately 56.7% of the stock of
PCAB, while Nick Maggos (“Nick”), the Petitioner’s only
son, was the owner and/or beneficial owner of all of
the remaining issued and outstanding stock of PCAB.
[Emphasis added.]
Respondent’s answer to the amended petition admitted
paragraph 5(b) of petitioner’s amended petition.
Pretrial Order of July 15, 1997
The Court issued the following pretrial order:
For cause, it is
ORDERED that each of the parties shall file no
later than September 15, 1997, a memorandum setting
forth--
(1) (a) The issues of fact (including any
issues subsidiary to ultimate issues) and (b) the
issues of law (including any issues subsidiary to
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