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Re: iPrelude post# 567064

Friday, 03/29/2019 4:57:54 PM

Friday, March 29, 2019 4:57:54 PM

Post# of 729932
Global Settlement Agreement Receivable / Other Taxes Receivable

The $5.3 million receivable that is reflected in the Trust’s Consolidated Statement of Net Assets in Liquidation as of December 31, 2018 represents the Trust’s estimate of remaining items in other taxes receivable. As discussed in Part 1 of this report, the remaining tax litigation was resolved in 2018; the Court of Appeals affirmed the decision of the Court of Claims denying the WMI Group any refund. While the value of the tax litigation is zero, the value of the state tax refunds due and received, the potential for recovery of interest netting claims, and the return of excess funds in the Tax Refund Escrow is sufficient to support the valuation of $5.3 million.
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