NC Fed. Court Denies Refund After Co. Used Wrong Tax Form

Law360, New York (March 5, 2014, 3:39 PM EST) -- A North Carolina federal district court on Wednesday refused to hear now-bankrupt furniture giant DeCoro USA Ltd.'s plea for a $560,000 tax carryback refund, agreeing with a bankruptcy court that the company's failure to file the correct tax form tanked the refund request.

U.S. District Court for the Middle District of North Carolina's Chief Judge William L. Osteen Jr. said the bankruptcy court was correct in ruling that it lacked jurisdiction to award DeCoro more than $500,000 in tax refunds, finding that Form 1139 — an...
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