Wisconsin Memorial Park Co. v. Commissioner
United States Tax Court
On June 21, 1934, petitioner was indebted to Kurtis R. Froedtert, its founder and owner of more than 50 per cent of its outstanding common (and preferred) stock, in an amount in excess of $ 400,000 -- and to other creditors in the aggregate amount of $ 100,000. On December 8, 1934, petitioner, Froedtert, and some other creditors entered into a debt compromise "Agreement" which recited that Froedtert, for valuable consideration received, quitclaimed, and assigned all of his…
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On June 21, 1934, petitioner was indebted to Kurtis R. Froedtert, its founder and owner of more than 50 per cent of its outstanding common (and preferred) stock, in an amount in excess of $ 400,000 -- and to other creditors in the aggregate amount of $ 100,000. On December 8, 1934, petitioner, Froedtert, and some other creditors entered into a debt compromise "Agreement" which recited that Froedtert, for valuable consideration received, quitclaimed, and assigned all of his right, title, and interest in and to the aforesaid stock to petitioner, and in turn transferred the stock to a trustee on…
1Opinion of the Court
Wisconsin Memorial Park Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Wisconsin Memorial Park Co. v. Commissioner
Docket No. 46140
United States Tax Court
28 T.C. 390; 1957 U.S. Tax Ct. LEXIS 187;
May 20, 1957, Filed
Decision will be entered under Rule 50.
On June 21, 1934, petitioner was indebted to Kurtis R. Froedtert, its founder and owner of more than 50 per cent of its outstanding common (and preferred) stock, in an amount in excess of $ 400,000 -- and to other creditors in the aggregate amount of $ 100,000. On December 8, 1934, petitioner, Froedtert, and some other…
2Cases cited2 opinions
- Lexmont Corp. v. CommissionerUnited States Tax Court · 1953
- Wisconsin Memorial Park Co. v. CommissionerUnited States Tax Court · 1957