BankUnited Asks Supreme Court To Hear Tax Refund Case

Law360, New York (January 31, 2014, 7:22 PM EST) -- BankUnited Financial Corp. has asked the U.S. Supreme Court to review its case claiming the Eleventh Circuit created an illegal $500 million tax controversy when it ordered the company to forward refunds from a consolidated tax return to the Federal Deposit Insurance Corp. as receiver for distribution to its subsidiaries.

BankUnited is hoping the high court will review the August decision by the Eleventh Circuit, which reversed a Florida bankruptcy court's decision to allow BankUnited to keep the refunds as assets for its bankruptcy estate based...
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