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5th Circ. Says Co. Must Forfeit Land To Fulfill $173M IRS Claim

By David McAfee (June 6, 2013, 4:48 PM EDT) -- The Fifth Circuit on Tuesday found that bankrupt Wren Alexander Investments LLC must forfeit a 551-acre tract of land in Texas that was sold to it by an indebted third party, saying Wren couldn't provide evidence to overcome a $173 million Internal Revenue Service claim on the property....

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