rud56789 from what I can put together is, the Tax Gross-Up amount would generally be an adjusted up amount so the final award stays the same. I don't think the final award would be increased, it would stay just about the same. No? Reason why the following difinition from the award as per page 159...
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TAX GROSS-UP...in order to make the award tax neutral, an adjustment to plantiffs damage award was required to offset the income tax implications of any damages representing income (or future income).
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So I would think the Tax Gross-Up $ amount is an amount being figured (added) because there would be taxes due on the award? So to be fair in the award and not have to reduce the award with taxes they figure in what taxes are due leaving the award the same after taxes are paid? $382,430,910.91. I would think this would be the guesstimated award amount?
Then if you go to the definition of how they are going to figure out the Determination of the Adjusted Litigation Recovery, you would have to go the the next area, as per...
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Dime Banccorp Inc. S-3/A filed on 12/15/2000
Determination of the Adjusted Litigation Recovery
Adjusted Litigation Recovery
= 85% X Amount Recovered ($382,430,910.91) minus
Litigation & LTW Expenses...(To us the unknown $ figure) minus
Taxes...(If the thought is the Tax Gross-Up is an amount so the final award is to remain the same) I would think this part of the calculation would be N/A in figuring the total?
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Adjusted Litigation Recovery
= 85% X $382,430,910.91 - Litigation & LTW Expenses (?) - Taxes $0 = (?)
So bottom line is...I still don't know. :)
But I do feel the award will not be increased with the (Tax Gross-Up $ amount) because that amount will be going to taxes.
Do you want to take the money from the LTW's and run or get WM stock?
AI
