Opinion
24408-16 24409-16
07-12-2024
WESTERN AMERICAN SPECIALTIES, INC., ET AL., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Mark V. Holmes Judge.
These microcaptive-insurance cases were on the Court's March 6, 2023 trial calendar for Dallas, Texas. The parties reached a basis for settlement some time ago and have finished drafting a closing agreement, however, they had encountered a crediting problem for payments already made.
The parties recently reported that they have continued to actively work towards finalizing a settlement in these cases. Unfortunately, the crediting problem is still an issue because the payments have not yet been reallocated. After the payments have been reallocated, the parties will be able to execute decision documents formally resolving these cases. They anticipate that this will be finished next month. It is therefore
ORDERED that on or before August 9, 2024 the parties shall submit settlement documents or file a status report describing their progress.