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In Re Herbert E. Russell. William Russell Gibson and F.H. Martin, Co-Trustees of the Estate of Herbert E. Russell v. United States

Court of Appeals for the Eighth Circuit

Decided March 7, 1991No. 89-2763WAPublishedCited by 46 opinions

1Opinion of the Court

MAGILL, Circuit Judge.

In this tax refund action, William Russell Gibson, the bankruptcy trustee,1 appeals from the district court’s order affirming the bankruptcy court’s granting of summary judgment for the Internal Revenue Service. Gibson argues on appeal that a bankruptcy trustee has the power, under 11 U.S.C. §§ 548, 549 (1988), to avoid a debt- or’s pre- and postpetition irrevocable elections to carry forward net operating losses under 26 U.S.C. § 172(b)(3)(C) (1988). We reverse and remand.

I

This case has a peculiar procedural history, although the facts underlying the claim are…

2Cases cited9 opinions

  1. Garcia v. Phoenix Bond & Indemnity Co. (In Re Garcia)District Court, N.D. Illinois · 1989
  2. John H. Young and Carolyn J. Young v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1986
  3. Brown v. Harris (In Re Auxano, Inc.)United States Bankruptcy Court, W.D. Missouri · 1989
  4. In the Matter of Bill K. Hargis and Marilyn E. Hargis, Debtors. Palmer & Palmer, P.C. v. United States TrusteeCourt of Appeals for the Fifth Circuit · 1989
  5. In Re Haugen Construction Service, Inc.United States Bankruptcy Court, D. North Dakota · 1989

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3Cited by46 opinions

  1. Berg & Berg Enterprises, LLC v. BoyleCalifornia Court of Appeal · 2009
  2. Majestic Star Casino, LLC v. Barden Development, Inc.Court of Appeals for the Third Circuit · 2013
  3. Besing v. Hawthorne (In Re Besing)Court of Appeals for the Fifth Circuit · 1993
  4. In Re: James Kenneth FeilerCourt of Appeals for the Ninth Circuit · 2000
  5. Mishkin Ex Rel. Liquidation of the Business of Adler, Coleman Clearing Corp. v. Ensminger (In Re Adler, Coleman Clearing Corp.)United States Bankruptcy Court, S.D. New York · 1999

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