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Tuesday, April 01, 2003


Ernst L. Meier was sole owner of Garland Farms, which leased land to tenant farmers. Employees of Garland were nominal shareholders of Blackland, which loaned money to farmers who leased from Garland. Blackland gave Meier power of attorney to do virtually anything for Blackland, and he and his wife were given authority to take money out of Blackland for whatever purpose in whatever amounts they wished. Tax Court upheld on the facts the IRS�s denial of a business bad debt loan for moneys given to Blackland by Meier.

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