-88-
By letter dated March 29, 1983, Weaver forwarded to Kanter
the most recent payment from Hyatt Corp. Weaver’s letter stated
in pertinent part:
Dear Burt:
Attached is the check from the Hyatt Corporation in the
amount of $245,843.00, which represents K.W.J.’s
commission for the year ending December 31, 1982.
Will you please deposit and issue appropriate checks to
the participants. [Exh. 373].
In December 1983, IRA liquidated KWJ Corp., and IRA’s
subsidiaries, BWK, Carlco, and TMT received its assets. BWK,
Carlco, and TMT then formed a partnership called KWJ Co. (KWJ
Partnership), to which they contributed all of the assets they
received from KWJ Corp.’s liquidation. Carlco and TMT each had a
45-percent interest in KWJ Partnership; BWK had a 10-percent
interest in the partnership. On January 10, 1984, Carlco, TMT,
and BWK made capital contributions to KWJ Partnership in the
respective amounts of $2,745, $2,745, and $610. Exh. 69, at 8;
Exh. 93, at 9; Exh. 114, at 6; also Exh. 9104, at 10.
Neither Weaver nor Kanter immediately informed Hyatt Corp.
that KWJ Corp. had been liquidated. Exh. 9104; Handelsman,
Transcr. at 1136-1137. Consequently, Hyatt Corp. continued to
send to Weaver checks made payable to KWJ Corp. Id.
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