We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

WaMu Wins Tax Refunds Off Thrift Deals In 9th Circ.

Law360 (March 3, 2011, 9:15 PM EST) -- The Ninth Circuit on Thursday overturned a Washington Mutual Inc. loss in a $15 million case the bank filed to recover excess taxes it paid after buying up faltering savings and loan associations.

The district court erred in ruling that the bank could not deduct from its taxes the liabilities a predecessor had took on by buying three failing savings and loan associations, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit said.

The district court will now have to determine how...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.