Please Answer

3. You are a paralegal in the Legal Department of a multinational company. A senior litigation attorney recently settled a case with a former supplier. You received a call from the supplier's counsel advising you that the wire payment of the initial escrow payment of a settlement was paid on 09/17/20. You have confirmed receipt from your Accounting/Treasury Group. This settlement must also be presented to the General Counsel and Board of Directors. The General Counsel is involved in many cases and will need to be reminded of the facts surrounding this case. The members of the Board are always interested in anticipated recovery amounts for each year as the amount recovered will be included in the financial statements. Background: Your managing attorney recently settled a case to be paid over a period of 3 years with an upfront escrow payment. The total amount due is $152,494 with a lump sum payment of $21,238 due within 5 days of the settlement, followed by 36 monthly payments of $3,646. The settlement agreement was signed on 09/13/20. How would you present this to the accounting department who must track the payments as received over the 3-year period? The settlement agreement is confidential so you cannot provide the settlement agreement to the accounting department. Also, how would you present this to the General Counsel and Board of Directors? 3. You are a paralegal in the Legal Department of a multinational company. A senior litigation attorney recently settled a case with a former supplier. You received a call from the supplier's counsel advising you that the wire payment of the initial escrow payment of a settlement was paid on 09/17/20. You have confirmed receipt from your Accounting/Treasury Group. This settlement must also be presented to the General Counsel and Board of Directors. The General Counsel is involved in many cases and will need to be reminded of the facts surrounding this case. The members of the Board are always interested in anticipated recovery amounts for each year as the amount recovered will be included in the financial statements. Background: Your managing attorney recently settled a case to be paid over a period of 3 years with an upfront escrow payment. The total amount due is $152,494 with a lump sum payment of $21,238 due within 5 days of the settlement, followed by 36 monthly payments of $3,646. The settlement agreement was signed on 09/13/20. How would you present this to the accounting department who must track the payments as received over the 3-year period? The settlement agreement is confidential so you cannot provide the settlement agreement to the accounting department. Also, how would you present this to the General Counsel and Board of Directors