The Manchester Group and Subsidiaries, Formerly Torrey Enterprises, Inc., and Subsidiaries, Formerly Torrey Development Corporation and Subsidiaries - Page 5

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               On September 23, 1993, while negotiations between the                  
          parties were ongoing, the Court served the parties with notice              
          that this case would be called for trial at the Court's trial               
          session scheduled to commence on February 28, 1994, in San Diego.           
               In late September or early October 1993, respondent's                  
          Appeals Office, after a period of consultation with respondent's            
          attorneys in both San Diego and Washington, D.C., decided to                
          concede the deficiency, additions to tax, and additional interest           
          as determined in the notice of deficiency and so notified                   
          petitioners' counsel.  Sometime thereafter, respondent sent a               
          settlement document to petitioners' counsel for his review and              
               The settlement document was a standard stipulated decision             
          consisting of a form of decision, which embodied respondent's               
          concession of the deficiency, additions to tax, and additional              
          interest, and a stipulation to be signed by counsel for the                 
          parties agreeing to entry of the form of decision by the Court.             
          The stipulated decision was silent regarding litigation costs.              
               Petitioners' counsel reviewed the stipulated decision and              
          revised its language.4  In revising the language, petitioners'              
          counsel did not introduce the issue of litigation costs.                    

          4   The nature of the revision made by petitioners' counsel                 
          appears to relate to the description of the additions to tax and            
          additional interest addressed in the stipulated decision.                   

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