Legal Opinion
In the Matter of Melvin R. Luster, Debtor. In the Matter of Harold E. Friedman, Debtor. Appeal of Dennis E. Quaid, Trustee. (Two Cases)
Court of Appeals for the Seventh Circuit
Decided November 30, 1992No. 92-1946, 92-1973PublishedCited by 9 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
This case of first and last impression presents the question whether net operating loss carryforwards are “property” of the debtor’s estate under the Bankruptcy Act of 1898, a statute repealed 14 years ago. Section 346(i)(l) of the Bankruptcy Code of 1978, 11 U.S.C. § 346(i)(1), provides that the estate succeeds to all tax attributes of the debtor. See also 26 U.S.C. § 1398(g). Nothing similar to § 346(i)(l) appeared in the 1898 Act. Melvin Luster and Harold Friedman filed petitions before the 1898 Act expired on September 30, 1979. That statute governs the…
2Cases cited12 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Segal v. RochelleSupreme Court of the United States · 1966
- Libson Shops, Inc., v. Koehler, District Director of Internal RevenueSupreme Court of the United States · 1957
- In the Matter of MORSE ELECTRIC COMPANY, INC., Debtor. Appeal of HOOSIER FENCE COMPANY, INC.Court of Appeals for the Seventh Circuit · 1986
7 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In Re South Beach Securities, Inc.Court of Appeals for the Seventh Circuit · 2010
- In Re Robert N. Jones and Margaret N. Jones, Debtors, Philip F. Boberschmidt, Trustee v. Society National Bank, N/k/a Key BankCourt of Appeals for the Seventh Circuit · 2000
- In Re KnobelUnited States Bankruptcy Court, W.D. Texas · 1994
- In Re EichhornUnited States Bankruptcy Court, S.D. Illinois · 2006
- James P. Barkman, Inc. v. Granger Construction Co. (In Re James P. Barkman, Inc.)United States Bankruptcy Court, E.D. Michigan · 1994
4 more not listed; retrieve them via the Exa API.