August 13, 2014
The Second Circuit on Wednesday overturned a $3.8 million tax refund award, the result of deals made more than a decade ago, given to a trustee of bankrupt PT-1 Communications Inc. after finding the bankruptcy court that awarded the money didn't have the authority to determine the refund claim.
November 18, 2013
The federal government told the Second Circuit on Friday that it's entitled to recoup part of an $8.7 million tax refund paid to bankrupt PT-1 Communications Inc.'s trustee to offset a tax liability related to a settlement over the 2001 sale of PT-1's phone card business to IDT Corp.