Hancock Can't Collect $120M Over Tax Deal: 7th Circ.

Law360, New York (September 18, 2009, 6:56 PM EDT) -- A federal appeals court has upheld a temporary restraining order preventing John Hancock Life Insurance Co. or other parties from recovering as much as $120 million from Hoosier Energy Rural Electric Cooperative Inc. in a dispute over contractual liabilities in a failed tax benefit transfer deal deemed illegal by the U.S. Internal Revenue Service.

The U.S. Court of Appeals for the Seventh Circuit issued a ruling Sept. 17 affirming the district court’s granting of the TRO but expressed reservations about the potential outcome of the case...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.