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A week after a jury awarded Staten Island Ferry crash victim James McMillan Jr. $22.9 million in damages, a federal judge slashed the amount to $18.s million. McMillan is now a quadriplegic after injuries sustained in the 2003 crash and requires round-the-clock medical care. His lawyer Evan Torgan said, "He was gratified that the judge recognized his suffering [and] he's hoping that the case is almost over" (the city is reviewing the decision). Interestingly, Judge Weinstein also reduced Torgan's payment, from a third to 20%, which means he'll get $3.7 million instead of $6.1 million. Torgan said that was unfair, but Weinstein said, "If the client should give you a gift of two and a half million dollars. I’m not approving or disapproving it.”
Judge Reduces Award to SI Ferry Crash Victim to $18 Million
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Oh, and any CPA's out there know if you give someone a 'gift' of 2.5 million dollars, how much of that is taxable? Is Torgan better off getting that amount as a gift, or as salary?
It seems like he can use his arms well enough. I hope the city puts a detective on his ass 24/7 and makes sure he really is suffering, because 18 million is a lot of money just because you have to use a wheelchair the rest of your life. Some kids are born without the use of their limbs and so not only do they not know what it's like to ever use them, they don't see a dime because of it.
GM, how much is it worth losing use of your legs?
"slashed the amount" certainly gives the impression that he's receiving a lot less than 18 million. It's not like the judge cut it from 22 to 3 or something.