Replies to post #4856 on Aleritas Capital Corporation (fka ARTA)

[temp luvs amy]

That's it.

First they attempted to abandon, then they discovered reasons not to. Hence they should be filing financials and setting aside in contemplation of future use of the benefits, even if current balances are zero.

The benefits are as described in those documents: Equity interests, tax loss, collections, and legal contingencies.

One specific suit declares that the losses of Brooke in the capital of Aleritas was impaired (see FTI consulting documents), but I don't know if the amended complaint was ever filed. The Kutak Rock decision may also affect us in the future. In other cases, where assets were recovered, our portion should have been set aside. The set aside funds are the funds which could be lost in other suits such as Patriot Risk.

I still can't imagine that Patriot would file suit if those funds are zero. OTOH, a win in the suit could gain them a tax loss benefit. Moreover, Patriot (and/or BASC) could gain a substantial tax benefit by an aquisition of ARTA through the court. Let the wheels turn.

[temp luvs amy]

BTW, tax benefits are highly overrated. A company needs to make a profit to utilize them. The insurace biz sucks right now, and they are probably collecting too many losses of their own to actually purchase more.