J. Michael Shedd and Marita Shedd - Page 18




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          inadequately capitalized entity.  Accordingly, we hold that                 
          petitioners Shedd realized a constructive dividend.                         
               To address concessions of the parties and to reflect the               
          foregoing,                                                                  
                                        Decisions will be entered                     
                                   under Rule 155.                                    






































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