Colapinto

BACKGROUND

Having reviewed the record and the briefs, we share the trial court’s lack of

confidence in the relative credibility of any of the parties to this action. Therefore, we

rely only on testimony of the parties which is undisputed and which identifies or

contextualizes the documentary evidence.

Plaintiff and Peter Stoll were friends for over thirty years. Plaintiff was an

entrepreneur who held licenses to sell Vatican themed gift items through various business

entities. Peter was an attorney whose practice centered on tax matters, bankruptcy and

commercial litigation, but who was disbarred. Following his disbarment, he continued to

3 advise plaintiff and plaintiff’s attorneys. Specifically, in the late 1980s or early 1990s,

Peter advised plaintiff regarding a lien imposed by the California Employment

Development Department (EDD) on plaintiff’s property.

Also in the 1980s, plaintiff sought to take his business, Design Giftware,

International (DGI), public, and partnered with a businessman, Scott Sherman, who had

the means to accomplish the goal. Plaintiff and Sherman entered into an arrangement

whereby plaintiff acquired stock in Sherman’s public entities and…