United States Ninth Circuit

In challenges to Tax Court decisions regarding transactions related to the relocation of a professional sports team, a settlement represented recovery of lost profits, but the court's decisions that 1) loan payments were taxable upon receipt, and 2) debt to a city was discharged, are reversed.

Appellate Information

• Argued 10/09/2002
• Decided 02/06/2003
• Published 02/06/2003

Judges

• TASHIMA, Circuit Judge., Before: TASHIMA, THOMAS, and PAEZ, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Jerome B. Falk, Jr.,Stuart S. Lipton, Douglas A. Winthrop, Clara J. Shin, Howard, Rice, Nemerovski, Canady, Falk & Rabkin, A Professional Corporation, San Francisco, CA, for the petitioners-appellants.


• For Appellees:
  
• Kenneth W. Rosenberg, Department of Justice, Tax Division, Washington, D.C., for the respondent-appellee.