Legal Opinion
Hoosier Energy Rural Electric Cooperative, Inc. v. John Hancock Life Insurance
Court of Appeals for the Seventh Circuit
Decided September 17, 2009No. 08-4030, 08-4248PublishedCited by 113 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
Hoosier Energy, a co-op, had depreciation deductions that it could not use. John Hancock Life Insurance Co. had income exceeding its available deductions. The two engaged in a transaction designed to move Hoosier Energy’s deductions to John Hancock. They entered into a leveraged lease: John Hancock paid Hoosier Energy $300 million for a 63-year lease of an undivided 2/3 interest in Hoosier Energy’s Merom generation plant. Hoosier Energy agreed to lease the plant back from John Hancock for 30 years, making periodic payments with a present value of $279 million. The $21…
2Cases cited15 opinions
- Winter v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 2008
- Steel Co. v. Citizens for a Better EnvironmentSupreme Court of the United States · 1998
- Frank Lyon Co. v. United StatesSupreme Court of the United States · 1978
- Girl Scouts of Manitou Council, Inc. v. Girl Scouts of United States of America, Inc.Court of Appeals for the Seventh Circuit · 2008
- Continental Wall Paper Co. v. Louis Voight & Sons Co.Supreme Court of the United States · 1909
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3Cited by113 opinions
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- Colleen Reilly v. City of HarrisburgCourt of Appeals for the Third Circuit · 2017
- Sherley v. SebeliusCourt of Appeals for the D.C. Circuit · 2011
- Judge v. QuinnCourt of Appeals for the Seventh Circuit · 2010
- Sierra Club v. United States Army Corps of EngineersCourt of Appeals for the Eighth Circuit · 2011
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