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.
Read the full summary
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
OPINION
NIMS, Judge:
These cases were heard by Special Trial Judge Peter J. Panuthos pursuant to the provisions of section 7456 of the Code.2 The Court agrees with and adopts the Special Trial Judge’s opinion, which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
PANUTHOS, Special Trial Judge:
Petitioners, in these consolidated cases, brought actions for declaratory judgment under section 7476.3 Petitioners in these cases are as follows:
Docket No.
12441-85R
Identity
Brewery Workers Pension Fund by Rocco F. DePerno, Paul F. Bush, Jack Canzoneri, T. Edward Nolan, Curtis Gunderson, and Richard…
2Cases cited20 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
15 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- CW Government Travel, Inc. v. United StatesUnited States Court of Federal Claims · 2000
- Romann v. CommissionerUnited States Tax Court · 1998
- Halliburton Co. v. CommissionerUnited States Tax Court · 1992
- New York State Teamsters Conference Pension & Retirement Fund v. CommissionerUnited States Tax Court · 1988
- Simmons v. CommissionerUnited States Tax Court · 1995
11 more not listed; retrieve them via the Exa API.