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establish that WACO actually made any payments in connection with
the installment promissory notes described above.
On August 25, 1983, Kanter wrote a letter to Lurie which
stated that Cashmere’s stockholders (at this point Waco and/or
the Bea Ritch Trusts) decided they would approve a sale of 100
percent of Cashmere’s stock to Equity only in exchange for cash.
Exh. 9157. The letter also stated Cashmere held only real estate
partnership interests and promissory notes “all of which will be
paid down by August 31, 1983.” Id.
On August 31, 1983, the promissory notes held by Cashmere
were paid off by checks drawn on the TACI Special E account, as
follows:
Ck. No. Date Payee Amount
1315 8/31/83 Holding Company $90,000
“For BRT”
1316 8/31/83 BWK Revocable Trust 34,230
“For BRT”
1317 8/31/83 Beach Trust 128,725
“For Trust (BRT)”
1318 8/31/83 Cashmere 94,800
“For HELO”
1319 8/31/83 Cashmere 38,000
“For GLS Assoc”
1320 8/31/83 Cashmere 25,045
“For ARO”
1321 8/31/83 Cashmere 66,000
“For Baroque Tr.”
1322 8/31/83 Cashmere 21,700
“For BWK Childrens Tr.”
Total 498,500
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