Chugach Alaska Corporation Chugach Development Corp. Chugach Fisheries Inc. Chugach Forest Products Inc. Chugach Timber Corporation v. United States

PREGERSON, Circuit Judge:

I. INTRODUCTION

The Internal Revenue Service (“IRS”) appeals the district court’s decision on an appeal from a bankruptcy court decision involving the Chapter 11 proceedings of Chugach Alaska Corporation (“Chugach”). This appeal addresses two issues, each of which requires us to interpret section 60(b)(5) of the Deficit Reduction Act of 1984, Pub.L. No. 98-369, 98 Stat. 494, 579 (1984) (“DEFRA 1984”), as amended in 1986, which provided tax relief to Alaska Native Corporations (“Native Corporations”). The district court determined: (1) that Chugach, a Native…