Bank Tax Refunds: FDIC Wins Again

Law360, New York (October 3, 2013, 4:51 PM EDT) -- We recently wrote an article about the Eleventh Circuit's decision in Zucker v. FDIC (In re BankUnited Financial Corp.), ___F.3d ___, No. 12-11392, (11th Cir. Aug. 15, 2013). There, in a decision that conflicted with a line of earlier cases, the Eleventh Circuit held that a tax refund attributable to losses incurred by an insolvent bank subsidiary belonged to the Federal Deposit Insurance Corporation, as receiver for the bank, rather than to the bankruptcy estate of the bank's holding company.

The Eleventh Circuit has now issued...
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