In connection with this Final Liquidating
Distribution the company will take the necessary actions with NASDAQ to delist the company common stock and ticker symbol of "CMYS".
In this example, the shareholders increase their after-tax return by not liquidating
This press release may contain forward-looking statements within the meaning of the federal securities laws, including statements regarding the timing and amount of potential future liquidating
distribution payments and amounts available for distribution to holders of common stock, if any.
The regulation provides that if a liquidation is followed or preceded by a transfer to another corporation of all or part of the liquidating
corporation's assets, it may have the effect of a dividend distribution or a transaction in which gain recognition is limited and no loss is recognized.
The Company believes the remaining activities necessary to complete prior to making a final liquidating
distribution (the "Final Liquidating
Distribution") will be completed during the first half of 2010.
distribution announced today represents a partial distribution to the Company's stockholders of funds that the Company received in connection with the December 2007 sale of substantially all of the Company's assets to a wholly-owned subsidiary of Inverness Medical Innovations, Inc.
The Tax Court ruled in William Norwalk, TC Memo 1998-279, that goodwill does not pass from a liquidating
corporation to 'shareholders if the good will was solely attributable to the shareholders' personal abilities.
Shareholders should consult their tax advisor regarding the effect of the liquidating
Therefore, their capital accounts and K's capital account would have all been $1 million, and that is how much each would have received in liquidating
Under the terms of the Liquidating
Trust Agreement executed by AmeriVest and the Trustee, which agreement became effective as of the Record Date, each stockholder of AmeriVest on the Record Date (each, a "beneficiary") automatically became the holder of one unit of beneficial interest ("Unit") in the Trust for each share of AmeriVest common stock then held of record by such stockholder.
The shareholders recognized gain on the PFIC liquidating
distribution to the extent that the amount realized exceeded each of their adjusted bases.
On December 27, 2006 the Trust will announce the amount of the final liquidating
distribution payable to shareholders on December 28, 2006.
AB LLC is deemed to make a liquidating
distribution of all its assets to A and B, followed by B's acquisition of the assets deemed distributed to A for $10,000.
AMEX: AMV), a real estate investment trust which formerly served small to medium size office tenants, announced today that its Board of Directors has declared a second liquidating
cash dividend of $1.
At issue was whether the gain triggered by the liquidating
distribution under Sec.