-189-
(ii). Lisle’s Personal Use of Carlco’s Funds
During 1983 to 1991, RWL Cinema Trust I99 made annual
payments of $2,948.50 to New Jersey Life Insurance Co. Exh.
1121, at 4. RWL Cinema Trust I made these payments out of annual
loans of $3,000 from a variety of Kanter-related entities (IFI,
TACI, IRA, and BWK). Id. In 1985, TACI made one (and only one)
loan of $3,000 to RWL Cinema Trust I. Id.
On April 12, 1985, Lisle wrote a check of $3,000 against
funds in Carlco’s account at Connecticut National Bank to repay a
loan from TACI. Exh. 612 (April bank statement, check No. 1011,
Bates 000318). The memo section of this check stated: “Payment
on Loan”. Id. Lisle used Carlco’s funds to repay the loan TACI
made to RWL Cinema Trust I. This payment did not generate a loan
from Carlco to RWL Cinema Trust, or a loan from IRA to the RWL
Cinema Trust, or a loan from Carlco to Lisle, Exh. 70; Exh. 32.
No loan arose from this transaction because the money in the
Connecticut National Bank account belonged to Lisle, and he used
that money to pay a personal debt.
(iii). Carlco’s Assets
During 1984 through 1989, Carlco’s assets totaled
$1,967,188, $2,327,066, $2,699,998, $3,078,545, $3,728,530, and
99 The RWL Cinema Trust I, a Lisle grantor trust, is
discussed in greater detail infra pp. 195-205, with regard to
loans from other Kanter-related entities.
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