EFTA01938530

To: Mortimer Zuckerma From: Jeffrey Epstein Sent Mon 1/13/2014 2:26:52 PM Subject Fwd: M 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 m From: Ellen Harrison." Date: Mon, Jan 13, 2014 at 10:23 AM Subject: Re: M To: Jeffrey Epstein <jeevacation@gmail.com> 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 leevacationOgmail.com> wrote: how would you service the debt of Rr On Mon, Jan 13, 2014 at 9:25 AM, Ellen Harrison a 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. Sorry. In my opinion, your purchase of the receivables from Mort 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, l 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 EFTA_R1_00395537 EFTA01938530 On Jan 13, 2014, at 7:19 AM, Jeffrey Epstein <jeevacation@gmaitcom> wrote: EH you told me that morts basis in the 12 percent notes had been written down, can you explain, . can you tell me the status of the trust accounting to date. ? you stated that Rand It was being valued, and planned to put it in a preferred partnership. ? what is the plan if the cashflow is not enough to pay the preferred. ? On Sun, Jan 12, 2014 at 2:30 PM, Ellen Harrison < wrote: > Hello > I just left you a voicemail. I would like to speak with you briefly about the terms of the deal you proposed to MZ so that we can ye it appropriate analysis. Could you please give me a call at r reply to this email as soon as possible? We are trying to sc u c a conference call with tax advisors on Monday between 10 and 12 and it would be very helpful to have your proposal in hand by then. > Thanks and Happy New Year. > Sent from my iPhone *********************************************************** The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail,com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved *********************************************************** The information contained in this communication is confidential, may be attorney-client privileged, may EFTA_R1_00395538 EFTA01938531 constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved ************* The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00395539 EFTA01938532