If my worksheet stands up to those of you following this for longer than me, it looks like they want to know why it isn't at least $287M rather than the $191M {a difference of $96M}. The DS indicated it could be $63M more {I don't know if this reference is to added damages or interest*, however}, so counsel would like to see the caclulation of the reserve increased at least from $191M to $254.
*Regarding interest, there are published post judgement rates {for a long time tied to certain US Treasuries, then a bit of a change} for awards in Federal courts. I have that dowloaded in XL, however, I don't have a reference as to when the interest clock starts on that and if the the posted post judgment rates are the correct ones to apply. If anyone has input on that I can run it and see if it is related to the $63. My gut feeling is that the interest should be higher on the "grossed up" $547M since either the
(1) the period the claim arose - Per the 8-K 3/12/2003
"Our claims arose from Anchor Savings' acquisition between 1982 and 1985 of eight failing savings and loan institutions, the deposits of which were insured by the Federal Savings and Loan Insurance Corporation, a government agency that provided deposit insurance to savings and loans ("FSLIC"). Anchor acquired four institutions with some direct financial assistance from the FSLIC (collectively the "assisted mergers"), and acquired the other four institutions without direct financial assistance (collectively the "unassisted mergers")."
or
(2) when the lawsuit was filed - same ref.
"On January 13, 1995, Anchor Savings Bank FSB filed a lawsuit in the United States Court of Federal Claims captioned Anchor Savings Bank FSB v. United States, No. 95-39C, alleging breach of contract and taking of property without compensation by the government in contravention of the Fifth Amendment to the United States Constitution."
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