Dish Network 2004 Annual Report Download - page 129

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ECHOSTAR COMMUNICATIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – Continued
Settlement of EchoStar IV Arbitration
On March 4, 2005, we agreed to settle our insurance claim and related claims for accrued interest and bad faith with
all carriers who agree to pay their proportionate share of an aggregate net amount of $240.0 million. We retained
title to and use of the EchoStar IV satellite. Payment from each settling carrier is due on or before April 26, 2005,
with interest commencing to accrue on April 12, 2005. Currently, we have received signed agreements back from
insurers representing over 90% of the aggregate amount. While we believe the remaining insurers will each sign the
agreement shortly, the arbitration will continue with respect to any insurers who decline to settle.
Amounts payable to us in excess of our previously recorded $106.0 million receivable will be recognized in income
during the period in which the respective insurers sign the settlement agreement. See Note 9 for more information
relating to the underlying insurance claim and our historical accounting for that claim.
F–49