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During 1996, petitioner received stock of CareMatrix and
PhyMatrix valued in the aggregate at $1,675,000; Abraham D.
Gosman served as chief executive officer and chairman of the
board of CareMatrix at all relevant times and appears to have
simultaneously served as chief executive officer and chairman of
the board of PhyMatrix;8 CareMatrix advanced a loan to petitioner
for the purpose of covering petitioner’s income tax liability
incurred in relation to petitioner’s receipt of the CareMatrix
and PhyMatrix stock; and the loan from CareMatrix was secured
solely by petitioner’s PhyMatrix stock. However, despite the
evidence of that interrelationship, respondent conceded that the
loan constituted bona fide indebtedness and offered no evidence
to the contrary. Respondent chose to submit the instant case
fully stipulated without trial rather than placing the issue of
the bona fides of the CareMatrix loan before the Court and
questioning the intent of petitioner and CareMatrix at trial.
Given respondent’s concession, and absent the raising of the
issue of the bona fides of the loan, we will not consider the
facts relating to the interrelationship among petitioner,
CareMatrix, and PhyMatrix for the purpose of the instant motion.
8Abraham D. Gosman appears to have signed the stock
certificate for the collateral as chairman, president, and chief
executive officer of PhyMatrix. The stock certificate was dated
May 19, 1997. The record contains no further evidence with
respect to the relationship of Abraham D. Gosman and PhyMatrix.
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