Alcoa Can't Dodge $10M Tax Suit Over Packaging Biz Spinoff

Law360, New York (August 23, 2012, 3:36 PM EDT) -- A New York federal judge on Wednesday denied Alcoa Inc.'s bid to boot a suit lodged by private equity-backed Rank Group Ltd. over $10 million in taxes Alcoa allegedly owes from a deal linked to the sale of its packaging business.

U.S. District Judge George B. Daniels denied Alcoa's motion after hearing oral arguments Wednesday, according to the order. New Zealand-based Rank Group, which in 2007 agreed to buy the packaging business that includes the popular Reynolds Wrap brand for $2.7 billion, contends Alcoa reneged on...
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