AmFin Needn't Turn Over $195M Tax Refund To FDIC

Law360, New York (March 26, 2013, 11:10 PM EDT) -- AmFin Financial Corp. scored a victory Tuesday, when an Ohio federal judge ruled the bankrupt firm can hold onto a $195 million tax refund that the Federal Deposit Insurance Corp. claimed belongs to an affiliate bank now in the agency’s receivership.

U.S. District Judge John R. Adams granted AmFin's motion for judgment on the pleadings, ruling that in the clear debtor-creditor relationship established between AmFin and its affiliates in two tax sharing agreements, the affiliates have the right only to an eventual refund payment from AmFin....
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