Loftus v. Commissioner
United States Tax Court
In 1973, the Brewery Workers Pension Fund and the Teamsters Pension Fund agreed to merge. Subsequent to the agreement, but prior to the date of the merger, Reingold Breweries, one of the largest employer contributors to the Brewery Workers Fund, ceased operations. The Teamsters Fund refused to proceed with the merger. The New York State Supreme Court ordered the Teamsters to specifically perform the merger agreement.
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In 1973, the Brewery Workers Pension Fund and the Teamsters Pension Fund agreed to merge. Subsequent to the agreement, but prior to the date of the merger, Reingold Breweries, one of the largest employer contributors to the Brewery Workers Fund, ceased operations. The Teamsters Fund refused to proceed with the merger. The New York State Supreme Court ordered the Teamsters to specifically perform the merger agreement. The Internal Revenue Service issued a ruling that the merger amendment would not affect the existing qualification of the Teamsters Fund. Subsequently, the New York Supreme Court…
1Opinion of the Court
Dennis Loftus, et al., 1 Petitioners v. Commissioner of Internal Revenue, and John Hoh, Kenneth Carroll, Anthony Grau, and Angelo Ferraro, Former Trustees of the Brewery Workers Pension Fund, Respondents
Loftus v. Commissioner
Docket Nos. 12440-85R, 12441-85R, 12442-85R, 12443-85R, 12444-85R
United States Tax Court
90 T.C. 845; 1988 U.S. Tax Ct. LEXIS 58; 90 T.C. No. 57; 9 Employee Benefits Cas. (BNA) 2049;
May 9, 1988; As amended May 9, 1988 May 9, 1988, Filed
In 1973, the Brewery Workers Pension Fund and the Teamsters Pension Fund agreed to merge. Subsequent to the agreement, but prior to the…
2Cases cited21 opinions
- Aetna Life Insurance v. HaworthSupreme Court of the United States · 1937
- Maryland Casualty Co. v. Pacific Coal & Oil Co.Supreme Court of the United States · 1941
- Golden v. ZwicklerSupreme Court of the United States · 1969
- Altvater v. FreemanSupreme Court of the United States · 1943
- Anthony v. CommissionerUnited States Tax Court · 1976
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