Debra Anne Banderas - Page 15

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                    A    Right.                                                       
                    Q    What source did your husband attempt to use                  
               to pay the 1997 taxes that were due?                                   
                    A    Well, we were told that the IRS was the                      
               number one creditor.  And we expected the Court, the                   
               Bankruptcy Court to pay the taxes.                                     
                    Q    Any other source?                                            
                    A    If we--well, the pension plan.  Because we                   
               thought the pension plan was protected, and we never                   
               thought that was going to be taken away from us.                       
                    Q    How much was in the pension plan?                            
                         *    *    *    *    *    *    *                              
                    A    Over a million dollars.  Plus my husband’s                   
               life insurance ended up being in there too.  So over $2                
               million in the end.                                                    
                    Q    Did somebody tell you that the pension funds                 
               were exempt?                                                           
                    A    We have always been told that the pension                    
               plan was exempt.  Yes.                                                 
                         *    *    *    *    *    *    *                              
                    Q    What would have happened if the pension plan                 
               didn’t pay for the taxes and the bankruptcy hadn’t paid                
               for the taxes?  Was there any other source of--                        
                    A    My husband would have had to go back to work,                
               which he ended up having to do anyway.                                 
          With respect to 1999, counsel inquired:  “what was your intent              
          regarding the balance due that was shown on the 1999 tax return”?           
          Petitioner replied:  “I anticipated money coming from the                   
          Bankruptcy Court to pay it off”, and she went on to cite the                
          pension plan and life insurance.                                            

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