WMI Holdings Corp. v. US

(United States Federal Circuit) – Affirming the US Court of Federal Claims dismissal of a company’s action seeking refunds for losses and deductions its predecessor company allegedly should have received for certain intangible assets acquired from the federal government in the 1980s because the court’s findings that the company failed to establish with a reasonable …

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Petersen Energía Inversora, S.A.U. v. Argentine Republic

(United States Second Circuit) – Affirmed the denial of a motion to dismiss based on foreign sovereign immunity under the Foreign Sovereignty Immunity Act in a securities lawsuit filed by the shareholder of an Argentine petroleum company against the Argentine Republic which held a majority of shares in the company. In affirming the denial and …

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Slone v. Commissioner of Internal Revenue

(United States Ninth Circuit) – Held that shareholders were liable for taxes on proceeds from the sale of a close corporation. The Internal Revenue Service sued the shareholders, claiming they violated Arizona’s Uniform Fraudulent Transfer Act by engaging in a complex series of stock and asset transactions that resulted in creating a debtor company unable …

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Altera Corp. v. Commissioner of Internal Revenue

(United States Ninth Circuit) – Upheld an Internal Revenue Service regulation addressing the tax treatment of employee stock options. In a ruling that has tax implications for multinational companies especially, the Ninth Circuit concluded that the Tax Court erred in striking down a regulation, 26 C.F.R. section 1.482-7A(d)(2), which says that related entities must share …

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In re Sino Clean Energy, Inc.

(United States Ninth Circuit) – Held that former board members of a corporation lacked corporate authority when they filed a Chapter 11 bankruptcy petition. The board members argued that they had the proper authority to file the bankruptcy petition even though a receiver appointed by a state court already had removed them from the board …

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Roy Moore Sues Sacha Baron Cohen, Showtime, CBS for $95M

We’ve poked some fun at former Alabama Supreme Court Chief Justice and senate candidate Roy Moore before — both for his brutal hazing as a first-year law student (he garnered the nickname “fruit salad” from a professor after mixed-up answers to questions) and for his quixotic crusade against gay marriage in Alabama (earning repeated slap-downs …

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Three Months After Arrest, Vince Vaughn Charged With DUI

Hopefully Vince Vaughn enjoyed his summer, because the easy living may be behind him. Vaughn was arrested back on June 10, 2018 in Hermosa Beach for misdemeanor driving under the influence (DUI) and disobeying an officer. His male passenger was also arrested for public intoxication. It is unclear to what level Vaughn was disobedient — …

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