From: Jeffrey Epstein <[email protected]> To: Mortimer Zuckerman Subject: Fwd: M Date: Mon, 13 Jan 2014 14:26:52 +0000 there is no plan, the facts have yet to be gathered and analyzed. . the IRS pre ruling was negative re cancellation of indebtedbess because the questions were the wrong ones.. this is silly, Forwarded message From: Ellen Harrison Date: Mon, Jan 13, 2014 at 10:23 AM Subject: Re: M To: Jeffrey Epstein <[email protected]> We are getting way ahead of the situation. We don't know if there will be any debt. Interest can accrue, of course. Sent from my iPhone On Jan 13, 2014, at 9:20 AM, Jeffrey Epstein <[email protected]> wrote: how would you service the debt of Rr On Mon, Jan 13, 2014 at 9:25 AM, Ellen Harrison < > wrote: On your question about Mort's basis in the notes, I checked with Brian and He said the notes had not been written down so I gave you bad information. Sony. In my opinion, your purchase of the receivables from Mon would not cure the COD issue we are worried about. Even if the sale generated a capital loss, that would not offset ordinary income from COD. However, we will continue to explore this along with other ideas My partner is working on an accounting for the 1983 and 1996 trusts. She is still getting data. This has been in process for less than a month. I expect that it will be some time before it is done because I am told that the records prior to 2000 are limited. SRR is appraising R&R. We are hoping, of course, that the cash flow will be sufficient to cover the preference. Since we don't have the appraisal or the preference yet we don't know whether this will be a problem. If it is, I would use debt to reduce value so cash flow would cover the preference. This is a problem under section 2701, because the common has to equal 10% of enterprise value before debt, but we will figure it out. Sent from my iPhone On Jan 13, 2014, at 7:19 AM, Jeffrey Epstein [email protected]> wrote: