Published on : 2017-04-15 08:10:08

Pursuant to the terms of the Settlement Agreement, on or about December1, 1997, the Company made settlement payments totaling $1. 5 P--> 10-Q NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) (Unaudited) Note 2. A hearing was held on August 21, 1997 and Judge William R. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted rcc liquidating corp. For example, estimates and assumptions are used in determining the Reserve for Estimated Costs During the Period of Liquidation and Common Stock held by the Employee Benefit Plans or plan participants. As a result, the Company adopted the liquidation basis of accounting effective January 1, 1995. Representatives of other significant shareholders have made similar statements to management.

The Company s shareholders approved the Transaction and the Plan of Dissolution (the Plan ) at their regular shareholder meeting on May18, 1995. In the opinion of management, all adjustments necessary to present fairly the statement of net assets in liquidation and changes therein for all periods presented have been made. 15 million to the Plans in addition to the pro rata amounts otherwise distributable in liquidation with respect to the 304,693 shares of Common Stock held by the Plans. Howard approved the settlement and entered the Order Approving Settlement. 5 million of dividends in arrears) as a result of its senior rights over the common stock. 1 P--> 10-Q NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1. Sale and Liquidation of the Company: Effective May 31, 1995, SBM Company (the Company ) sold substantially all of the business operations and assets of the Company to ARM Financial Group, Inc.

The Company has adopted a Plan of Dissolution effective May 31, 1995. Common Stock Held by Employee Benefit Plans or Plan Participants: The Company s two employee benefit plans ( Plans ) owned 304,693 shares of Company common stock. In January 1995, the trustee of the Plans notified the Company that it was tendering all shares held by the Plans to the Company for purchase by the Company under the Stock Agreement.sex chat online with girls below 25y.
. This amount includes $150,000 in partial payment of attorneys fees incurred by the Trustee. The Schonlau Trust did, however, indicate that it was unwilling to proceed to settlement unless a class consisting of all non-Plan shareholders was certified and unless it was named as representative of the class. At closing, the Series A Preferred Stock was redeemed for $20. .

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The shareholder’s adjusted basis in the stock is subtracted from the cash and fair market value (FMV) of other property received from the corporation.

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