Robert A. Green
Registered: Nov 2007
04-27-13 01:17 AM
[QUOTE]Quote from comintel:
I am getting several offers for my PFG claim in the mail.
They are currently offering another 25% or so beyond the initial 30%.
These companies will be our best friends after they accumulate a large number of claims, because they will sue the banks and others involved on a class action basis and they will do so aggressively.
They would not be offering a total of 55% (less the 30% already distributed) if they thought that ultimately only 60% would be recovered.
So do not sell your claim.
If things go well when they pursue the class actions, we may eventually see a much higher recovery if the banks and auditors etc. settle. And everyone will get the benefit of the final recovery settlement if they hold out and do not sell their claim! [/QUOTE
Selling your claim leads to capital loss treatment. It's better to use Rev. Proc. 2009-20 for full ordinary loss treatment.