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control of ERG and NPI.51 The record clearly demonstrates that
ERG funds transferred to NPI were used for Burton’s family’s
economic benefit and otherwise lacked a business purpose.
Furthermore, petitioners argue: “Respondent has not
presented compelling evidence that Burton appropriated NPI’s bank
accounts to his own benefit.” Again, we disagree. The record
demonstrates, and indeed as the arbitrators also found, that
Burton transferred ERG money to NPI and then used this money for
the sole and exclusive benefit of himself and his family.
Glendon received no benefit from his determined ownership rights
in NPI or ERG until after the final arbitration decision. As he
testified, after June 1987 neither he nor Aker had any
involvement with ERG. That issue was at the very heart of the
brothers’ dispute during the arbitration proceedings.
As we discuss infra, the Bensons received a substantial
economic benefit from the ERG funds transferred to NPI.
Accordingly, we find and hold52 that the ERG transfers to NPI
51Petitioners asked us to find as fact that:
All of the funds at issue that were transferred from
ERG to NPI were deposited in an NPI bank account * * *
over which Burton exercised sole authority and control
as president of NPI responsible to its shareholders.
[Emphasis added.]
52Our use of the term “find and hold” in this opinion means
that we have determined that a preponderance of evidence supports
our conclusion.
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