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binding arbitration pursuant to Rule 124. The
arbitration agreement requires the parties to submit
certain information to the arbitrator by a prescribed
deadline and gives the arbitrator discretionary
authority to request additional information. Ps made
a timely submission of information to the arbitrator
and another untimely submission to which R waived any
objection on condition that Ps submit no additional
information. Ps have moved to delay entering the
arbitrator’s findings in the record on the ground that
the arbitrator failed to request and consider certain
additional information that they consider essential to
their case. Held: Absent good cause, we shall not set
aside the terms of an arbitration agreement. Ps’
motion is denied.
Moshe Schuldinger, for petitioners.
Roger W. Bracken and Avery B. Cousins III, for respondent.
OPINION
THORNTON, Judge: A primary issue in these consolidated
cases is the fair market value of numerous West Virginia natural
gas wells with respect to which petitioners claimed charitable
contribution deductions. The parties have agreed to resolve this
factual valuation issue by voluntary binding arbitration,
pursuant to Rule 124.2 The case is now before us on petitioners’
motion to delay entering the arbitrator’s findings in the record.
2 Unless otherwise indicated, all Rule references are to the
Tax Court Rules of Practice and Procedure.
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Last modified: May 25, 2011