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aforementioned documents, however, were at any time signed by Mr.
Burke, Barbara Drake, Darren Drake, Gregory Drake, Jr., or
petitioner.
Petitioner and respondent each referenced the global
settlement negotiations in the status reports that we ordered to
be filed with this Court by January 6, 2006. Petitioner’s status
report stated that “counsel have undertaken extensive
negotiations to resolve the subject matter and believe that they
have achieved a basis for settlement.” Respondent’s status
report stated that the “parties have engaged in settlement
negotiations in an attempt to resolve petitioner’s outstanding
income tax liabilities. As of this date, the parties have not
resolved the outstanding income tax liabilities but negotiations
are on going.”
In a letter to Mr. Burke dated January 13, 2006, Attorney
Forbes stated as follows: “As of this date, the terms of the
settlement have not been accepted by your client and related
parties. * * * We are hereby withdrawing the proposed January
6, 2006 settlement unless Barbara Drake agrees to the vacatur of
12(...continued)
“petitioner and respondent will resolve the liabilities that are
the subject of this action in accordance with the terms of the
December 20, 2005, letter from respondent to petitioner’s
counsel, Timothy J. Burke.” The proposed waiver stated, inter
alia, as follows: “In accordance with the December 20, 2005
letter from [Attorney Cardone to Mr. Burke] and pursuant to their
agreement with the terms of that letter, Gregory Drake, Jr., and
Darren Drake, hereby waive any and all claims * * *.”
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