Analysis

Justices’ Bank Refund Analysis Likely To Have Limited Impact

Law360 (December 2, 2019, 6:33 PM EST) -- The U.S. Supreme Court on Tuesday will mull whether a $4.1 million tax refund belongs to a failed bank or its corporate parent, in a case that will likely have narrow ramifications due to a change in the tax law.

The Supreme Court will hear oral arguments in Rodriguez v. Federal Deposit Insurance Corp., in which the FDIC, as receiver for defunct United Western Bank, is battling with the bank's holding company, United Western Bancorp Inc., over who is entitled to the tax refund.

The refund stems from a $35.4 million loss that United Western Bank incurred in the 2010 tax year that it carried back...

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