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fourth, fifth, and sixth distributions all occurred on December
30, 1994. Mark Bongard, Rhonda Notermann, and Beth Akerberg were
the recipients of 85, 151, and 58 shares of Empak stock,
respectively, all of which were apparently redeemed by Empak.
Following these six distributions, ISA Trust held 3,626 shares of
Empak stock which represented a 12.45-percent ownership interest.
On January 5, 1995, Mr. Welter appointed Mark Bongard and
Mr. Boyle as cotrustees of ISA Trust; he then resigned as
trustee. Mark Bongard and Mr. Boyle accepted their appointments
on January 10 and 18, 1995, respectively. Mr. Boyle and Mark
Bongard later reappointed Mr. Bernards as an additional ISA Trust
trustee on October 1, 1997.
When Empak’s stock was split 223 to 1 on April 18, 1996, ISA
Trust’s number of Empak shares increased to 808,598. When Empak
distributed to decedent its Emplast stock on July 31, 1996, ISA
Trust continued to hold 808,598 shares of Empak. ISA Trust’s
ownership percentage of Empak was 13.61 percent at that time.
B. Bongard Family Limited Partnership
On December 28, 1996, decedent signed a letter that was
written by Mr. Fullmer and addressed to decedent’s children. The
letter expressed some reasons for forming WCB Holdings and BFLP.
The letter explained that the entities provided, among other
things, a method for giving assets to decedent’s family members
without deterring them from working hard and becoming educated,
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