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A Growing Circuit Split: Does the IRS Have Sovereign Immunity from Fraudulent Transfer Claims under 11 U.S.C. § 544(b)(1)?

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Tax, Nelson Mullins Riley & Scarborough LLP, Internal Revenue Service (USA), Supreme Court of the United States, Ninth Circuit
The PTL Bankruptcy Case: Sex, Drugs, and Gospel

Not your Ordinary Bankruptcy Case

Columbia, South Carolina is hot during the summer, such that the City adopted the motto “Famously Hot” a few years ago. Temperatures frequently exceed 100 degrees in the summer. On June 12, 1987, the PTL Club filed chapter 11 cases in Columbia, adding heat to the already hot City.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Internal Revenue Service (USA), Federal Communications Commission (USA)
Sticking it to the IRS - Judge Rules IRS Code Interest Rate does not Trump Interest Rate in Confirmed Plan

If, like me, you have ever scratched your head in confusion while preparing your taxes and thought to yourself – “I can’t believe the IRS takes such an absurd position on xyz tax exemption I want to use – who comes up with these crazy positions?” – then you might take some pleasure in a recent opinion from Judge Gross of the United States Bankruptcy Court for the District of Delaware calling an argument made by the IRS “strained and a bit confusing.” You read that right.

USA, Insolvency & Restructuring, Litigation, Tax, Nelson Mullins Riley & Scarborough LLP, Tax exemption, Internal Revenue Service (USA), United States bankruptcy court, US District Court for District of Delaware