US Court Sets Bahamas Law Role In Gambling Magnate's Row

Law360 (August 15, 2019, 6:27 PM EDT) -- Bahamian law can be used to weigh a dispute over whether the assets of a Bahamian investment company can be levied to satisfy the tax debt of gambling magnate Gary Kaplan, a Pennsylvania federal court ruled.

Nineveh Investments Ltd. has shown that the Bahamas Trustee Act can be used to interpret the trust documents of the Kaplan Family Trust to determine whether Kaplan has an interest in the trust, the court said. The Internal Revenue Service has levied assets transferred by Kaplan to the trust, whose financial assets are held by Nineveh, to settle a tax bill from the sale of his...

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