Legal Opinion
Official Committee of Unsecured Creditors v. PSS Steamship Co.
Court of Appeals for the Second Circuit
Decided March 20, 1991No. Nos. 1023, 1131, Dockets 90-5063, 90-5073PublishedCited by 10 opinions
1Opinion of the Court
TIMBERS, Circuit Judge:
Appellant/cross-appellee PSS Steamship Company, Inc. (PSS) appeals from an order entered September 28, 1990, in the Southern District of New York, Robert P. Patterson, District Judge, affirming an order of the bankruptcy court that permanently enjoined it from taking a worthless stock deduction on its 1988 federal income tax return with respect to its bankrupt subsidiary Prudential Lines, Inc. (PLI), since that would have adversely affected PLI’s ability to carryforward its net operating loss (NOL) to offset future income.
On appeal, PSS contends that (1) the NOL…
2Cases cited43 opinions
- United States v. Whiting Pools, Inc.Supreme Court of the United States · 1983
- Midlantic National Bank v. New Jersey Department of Environmental ProtectionSupreme Court of the United States · 1986
- Segal v. RochelleSupreme Court of the United States · 1966
- Kokoszka v. BelfordSupreme Court of the United States · 1974
- In Re Manville Forest Products Corporation, Debtor. Gulf States Exploration Co. v. Manville Forest Products CorporationCourt of Appeals for the Second Circuit · 1990
38 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- In Re Prudential Lines Inc.Court of Appeals for the Second Circuit · 1991
- Picard v. Fairfield Greenwich Ltd.Court of Appeals for the Second Circuit · 2014
- U.S. Bank Trust National Ass'n v. American Airlines, Inc. (In re AMR Corp.)United States Bankruptcy Court, S.D. New York · 2013
- Aetna Casualty & Surety Co. v. LTV Steel Co. (In re Chateaugay Corp.)Court of Appeals for the Second Circuit · 1996
- Alert Holdings, Inc. v. Interstate Protective Services, Inc. (In Re Alert Holdings Inc.)United States Bankruptcy Court, S.D. New York · 1992
5 more not listed; retrieve them via the Exa API.