In this proceeding, the Full Court of the Federal Court considered three main issues:
- whether certain on-lending arrangements gave rise to legitimate tax deductions for interest;
- duties and liabilities of directors who were not directly involved in the impugned transactions; and
- costs payable by a representative where claims were brought against the estate of a deceased director and the representative of that estate, in his own right.
Facts
Australia, Israel, Banking, Company & Commercial, Insolvency & Restructuring, Litigation, The Commercial Bar Association of Victoria, Tax deduction, Federal Court of Australia
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets
Introduction
Introduction
Introduction
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
Introduction
Introduction
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code
Pension issues in the American Airlines (AMR) bankruptcy1 have resulted in the Internal Revenue Service (IRS) issuing new final regulations, effective November 8, 2012 (Final Regulations), which broadly impact all debtors facing underfunded pension plan obligations. The Final Regulations provide chapter 11 bankruptcy debtors facing distress terminations of their tax-qualified defined benefit pension plans with the additional option of amending the plans to eliminate accelerated payment options.
USA, Employee Benefits & Pensions, Insolvency & Restructuring, Tax, Squire Patton Boggs, Bankruptcy, Debtor, Defined benefit pension plan, Internal Revenue Service (USA), Pension Benefit Guaranty Corporation, Internal Revenue Code (USA)
Introduction
USA, Delaware, Insolvency & Restructuring, Litigation, Shipping & Transport, Fox Rothschild LLP, Bankruptcy, Liquefied natural gas, United States bankruptcy court