Legal Opinion
Klamath Strategic Investment Fund Ex Rel. St. Croix Ventures v. United States
Court of Appeals for the Fifth Circuit
Decided May 22, 2009No. 07-40861PublishedCited by 83 opinions
1Opinion of the Court
EMILIO M. GARZA, Circuit Judge:
In this tax case, Plaintiffs Klamath Strategic Investment Fund (“Klamath”) and Kinabalu Strategic Investment Fund (“Kinabalu”) (collectively, the “Partnerships”) filed suit against defendant the United States of America for readjustment of partnership items. Both parties appeal various aspects of the district court’s readjustment determination. For the following reasons, we affirm in part, vacate in part, and remand.
I
This case involves a highly complex series of financial transactions, which the district court categorized as a tax shelter known as Bond Linked…
2Cases cited23 opinions
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