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Cove property) at Chick Cove Manor in Middlesex County, Virginia,
which it intended to sell after it caused a house to be built
thereon.
During 1993, 1994, and 1995, Mr. Barber stayed at various
times at the Virginia Beach property, at the Chick Cove property,
and at a house located in Topping, Virginia.
Certain Transactions Involving Delaware
Corporation, Ms. Havens, and Mr. Barber
At least during the period June 2, 1992, to August 1, 1993,
Delaware Corporation did not have the assets or capitalization
that Mr. Barber believed was necessary to secure the financing
and the bonding that it required in order to bid successfully on
major construction projects. During that period, Ms. Havens and
Mr. Barber discussed between themselves and with Robert L. Braun
(Mr. Braun)4 the use by Delaware Corporation of certain of Ms.
Havens’s assets and certain of Mr. Barber’s assets for the
purpose of enhancing Delaware Corporation’s ability to secure
such financing and such bonding (Ms. Havens’s and Mr. Barber’s
plan).
Mr. Braun recommended that Delaware Corporation, Ms. Havens,
and Mr. Barber use a so-called contract of purchase, and not a
deed of trust, in order to effect Ms. Havens’s and Mr. Barber’s
4Mr. Braun is a certified public accountant who since 1978
provided various professional services to Delaware Corporation
and Mr. Barber.
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Last modified: May 25, 2011