Free Status Report - District Court of Federal Claims - federal

Case 1:99-cv-00037-GWM

Document 76

Filed 11/13/2006

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IN THE UNITED STATES COURT OF FEDERAL CLAIMS __________ No. 99-37 T1 (Judge George W. Miller) BURLINGTON RESOURCES, INC., Plaintiff v. THE UNITED STATES, Defendant __________ No. 99-53 T BURLINGTON NORTHERN SANTA FE CORPORATION, Plaintiff v. THE UNITED STATES, Defendant __________ JOINT STATUS REPORT __________

In accordance with the Court's order entered November 19, 2003, the parties submit this joint status report regarding settlement activities.

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Proceedings on these matters were consolidated by order entered March 29, 1999. 1

Case 1:99-cv-00037-GWM

Document 76

Filed 11/13/2006

Page 2 of 3

As detailed in previous status reports, the parties completed their negotiation of revisions to the settlement terms by January 28, 2005. Thereafter, on March 15, 2005, the Department of Justice received the recommendation of the Internal Revenue Service with respect to the offers, as revised and clarified. The Chief of the Court of Federal Claims Section made her recommendation on the offers and forwarded the recommendations and files to the Office of Review of the Tax Division on March 31, 2005. A computation specialist with the Office of Review raised questions with respect to the computation of plaintiffs' interest netting claim and plaintiffs' counsel responded to the questions. After the questions were resolved, the Office of Review and plaintiffs' counsel reached an agreement on the principal tax computations and interest netting computations. On October 20, 2006, plaintiffs' counsel delivered revised settlement offers to the Government reflecting the agreed computations. The Chief of the Office of Review made her recommendation on the revised offers and forwarded the recommendation and files to the office of the Deputy Assistant Attorney General on November 2, 2006. If the settlement is approved by the Deputy Assistant Attorney General, it will then be reviewed by the Assistant Attorney General. If the settlement is approved by the Assistant Attorney General, it will then be reviewed by the Joint Committee on Taxation, which is the final level of review. Unless instructed otherwise, the parties will file their next status report by February 12, 2007, if they have not filed a stipulation of dismissal prior to that date.

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Case 1:99-cv-00037-GWM

Document 76

Filed 11/13/2006

Page 3 of 3

This status report has been prepared in consultation with plaintiffs' counsel, who was provided with a copy of this report by electronic mail prior to filing. Plaintiffs' counsel has authorized the undersigned attorneys for defendant to represent to the Court that she joins in this report.

Respectfully submitted, s/Jennifer P. Wilson JENNIFER P. WILSON Attorney of Record U.S. Department of Justice Tax Division Court of Federal Claims Section Post Office Box 26 Ben Franklin Post Office Washington, D.C. 20044 Telephone: 202-307-6495 Facsimile: 202-514-9440 E-mail: [email protected] EILEEN J. O'CONNOR Assistant Attorney General DAVID GUSTAFSON Chief, Court of Federal Claims Section STEVEN I. FRAHM Assistant Chief s/Steven I. Frahm Of Counsel November 13, 2006

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