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Also, on November 16, 1998, the executors of the estate
filed a petition with the Surrogate Court of the State of New
York, County of Westchester, requesting that limited estate
administrative powers be granted to Goerig for the purposes of
representing decedent’s estate in connection with the anticipated
audit by respondent of the estate’s Federal estate tax return and
of handling the anticipated negotiations with respondent over the
fair market value of decedent’s 487,440 shares of TPC stock. On
December 18, 1998, the court granted to Goerig such limited
estate administrative powers.
The acknowledged reason the estate hired Goerig (to value
the TPC stock owned by decedent and to represent the estate as
administrator) was to have respondent’s audit of decedent’s
Federal estate tax return conducted not by respondent’s New York
City office but by respondent’s Alaska office, where Goerig
believed and apparently represented to the estate’s
representative that he would be able to obtain for the estate a
more favorable valuation of the estate’s TPC stock.
Executors for the estate had learned about Goerig from an
attorney for decedent’s family who had met Goerig on a fishing
trip.
TPC’s financial books and records were maintained on the
basis of a fiscal year ending September 30.
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