Replies to post #7847 on Dime Bancorp Inc (fka DIMEQ)

[linda1]

Thanks very much for the link to Docket # 1.


I think that the Appeal by the DOJ is due to JPM's calculation of the Tax Gross-Up - which the DOJ did not agree with - as well as its immediate payment. The DOJ argued that the LTWs' market value should be higher and thus a smaller Tax Gross-Up - as pointed out in Judge Block's Opinion of Sept 1, 2015:


" As the government points out, should the

IRS conclude that the Litigation Tracking Warrants understated the real value of the Anchor

litigation, Anchor’s basis would be higher, and hence the appropriate tax gross up award would

be smaller. Id.; Def.’s Status Report, ECF No. 375, at 3 (suggesting that plaintiff may have

underestimated the value of the Anchor litigation “due to possible depression of the market value

of the LTWs relative to the value of the underlying Anchor lawsuit as of September 2008 due to

Washington Mutual, Inc.’s imminent bankruptcy”). "

[philipmax]

KUDOS!!! I got to hand it to you Sidedrft, you are the best of the best. I knew it was there but I had no way of transmitting it. You amaze me every time!