Legal Opinion

Gibraltar Financial Corporation of California, Etc. v. The United States

Court of Appeals for the Federal Circuit

Decided July 28, 1987No. Appeal 86-1578PublishedCited by 11 opinions

1Opinion of the Court

NIES, Circuit Judge.

The United States appeals the judgment of the United States Claims Court, 10 Cl.Ct. 31 (1986), in favor of Gibraltar Financial Corporation of California (GFC or taxpayer) for the amount of $15,119.17. Taxpayer had sought a refund of the tax which it was assessed in 1972 and 1973 on the portion of taxpayer’s gain on sales of certain real property (“security property”) which Internal Revenue Service determined was delinquent interest on the underlying defaulted real property loans. The Claims Court held that taxpayer was not required to include in ordinary income any gain…

2Cases cited12 opinions

Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
South Corporation and Seal Fleet, Inc. v. The United StatesCourt of Appeals for the Federal Circuit · 1982
Helvering v. Midland Mutual Life InsuranceSupreme Court of the United States · 1937
Nazareth Gates v. John Collier, Superintendent of the Mississippi State PenitentiaryCourt of Appeals for the Fifth Circuit · 1980
First Charter Financial Corp., Plaintiff-Appellee-Cross-Appellant v. United States of America, Defendant-Appellant-Cross-AppelleeCourt of Appeals for the First Circuit · 1982

7 more not listed; retrieve them via the Exa API.

3Cited by11 opinions

Bankers Trust New York Corporation and Consolidated Subsidiaries v. United StatesCourt of Appeals for the Federal Circuit · 2000
330 West Hubbard Restaurant Corporation, Doing Business as Coco Pazzo v. United StatesCourt of Appeals for the Seventh Circuit · 2000
Washington Energy Company v. United StatesCourt of Appeals for the Federal Circuit · 1996
Bankers Trust New York Corp. v. United StatesUnited States Court of Federal Claims · 1996
Lidy v. SullivanDistrict Court, S.D. Indiana · 1990

6 more not listed; retrieve them via the Exa API.