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$129,186 of total liabilities. On December 29, 1992, Mr. Syelsky
filed a document entitled “REPORT OF TRUSTEE IN NO ASSET CASE”
dated September 11, 1992, which was signed by the trustee of Mr.
Syelsky’s bankruptcy estate, and which stated, inter alia:
that the trustee has made diligent inquiry into the
whereabouts of property belonging to the estate and
that there is no property available for distribution
from the estate over and above that exempted by the
debtor(s).
On December 29, 1992, the Bankruptcy Court filed a “FINAL DECREE”
which ordered, inter alia, Mr. Syelsky’s case under chapter 7 of
the U.S. Bankruptcy Code closed.
On December 15, 1992,5 a check for $30,000, which Mr.
Syelsky signed and on which the words “1099" and “Commission”
were written (Mr. Syelsky’s check), was deposited, along with a
check for $100 from Eid’s TV, into petitioner’s UVW account. The
proceeds of Mr. Syelsky’s check constituted an advance or loan
from Mr. Syelsky to petitioner (Mr. Syelsky’s $30,000 loan) in
order for him to purchase on behalf of Mr. Syelsky certain
merchandise that petitioner had located and that Mr. Syelsky
wanted to resell to one of Mr. Syelsky’s customers. Mr. Vulis
guarantied repayment of Mr. Syelsky’s $30,000 loan. Sometime
after Mr. Syelsky gave petitioner Mr. Syelsky’s check, Mr.
5The date of Dec. 15, 1993, appeared on the front of the
check for $30,000 that Mr. Syelsky signed. However, it is clear
from the record that that check was actually signed and deposited
on Dec. 15, 1992, and that the year 1993 was written on that
check by mistake.
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