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Settlement Payments and Reporting Responsibilities: Defendants and Co-Defendants
January 22, 2025
Q.
Defendant and co-defendant enter into a $10,000 settlement agreement with plaintiff. Defendant makes the $10,000 payment to the plaintiff. The nature of the settlement is that of a reportable payment.
Scenario 1: Co-defendant does not reimburse any of the $10,000 to the defendant. Does the co-defendant have any responsibility to report the payment to the plaintiff?
Scenario 1: Co-defendant reimburses $5,000 to the defendant. Does the co-defendant have any responsibility to report the…
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