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  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Nov 1, 2008 10:57 AM Flag

    CEG Part Deux

    pmlljl,
    The difficulty would be that Golden Ocean would not be able to claim to American National that Golden Ocean had suffered any damages when its ship sank since its huge hold had been full of overpaid executives instead of iron ore, the benefit of whose sinking would more than offset the loss of any ship. In fact, the IRS might argue that the event generated taxable income for Golden Ocean.

 
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