The bixby liquidating trust college freshman dating tips

SLFM was formed with the idea that it would have no officers or staff of its own, but would depend upon Insurors, who possessed the facilities, management and operation. Following its incorporation, and during the period of this lawsuit, SLFM was a wholly owned subsidiary of the defendant SLIC. FEDERAL DEPOSIT INSURANCE CORPORATION, the Kempton Company,as Plan Administrator, Oklahoma Bankers Association Insurance Trust, and as Trustees, Robert Hollis, George Hauger, Harry Leonard, John Lowry, Ralph Mc Calmont, F. Leiding's employment--like that of all Bixby employees--terminated at this time. Second, he contends that the ERISA statutes contemplated and authorized the extension of continuation coverage to employees like Leiding. This new provision--known as COBRA--provides that an employee whose employment terminates, other than for gross misconduct, is entitled to continued coverage under his employer's ERISA plan for 18 months after his employment terminates or until the "date on which the employer ceases to provide any group health plan to any employee." 29 U. Bixby additionally ceased to be a member of the OBA and ceased to pay premiums to maintain its plan as required by the contract with the OBA. First, he argues that he relied on the oral assurances of plan administrators that he would continue to receive coverage in the event of Bixby's demise and that he accordingly is entitled to coverage on equitable grounds. The bankruptcy petitions were filed pursuant to chapter 11 of the Bankruptcy Code, and the debtors represented their own bankruptcy estates as debtors in possession. That amount, in addition to the ,000, which was posted to the MCLT’s 1992 account, were credited to an “excess collection account”. With respect to the Supreme Court’s reversal of the Court of Appeals, petitioners argue that the bankruptcy court’s holding that the MCLT was a grantor trust survived that reversal. Whether the Court’s opinion preserved the bankruptcy court’s finding that the MCLT was a grantor trust to the extent of the other debtors’ interests has no bearing on its reversal of the bankruptcy court’s finding as it pertains to petitioner. Because of our finding that the MCLT is not a grantor trust as to petitioner, petitioner is not entitled to a credit or refund for million in payments made, in 19, by the trustee to the IRS on 63 *63 behalf of the MCLT and for 1,000 [37] in payments made by the trustee to the IRS on behalf of Holywell for taxable years after July 31, 1986. Abatement of Assessments Finally, petitioners argue that respondent improperly abated assessments of income tax against the MCLT for taxable years 19. We lack jurisdiction to determine the propriety of respondent’s abatement of those assessments against the MCLT. They defaulted on the loans, and on August 22, 1984, petitioner, Holywell, MCC, MCLP, and Chopin (sometimes debtors) filed separate petitions in bankruptcy with the U. Bankruptcy Court for the Southern District of Florida (bankruptcy court). The excess payment (i.e., 3,364) was treated as an overpayment of tax for the MCLT’s 1991 tax year. Petitioner did not furnish any, not to mention the major portion of, consideration for the MCLT’s establishment. Indeed, as detailed above, petitioners’ arguments on brief rest upon the assertion that the MCLT was a grantor trust and petitioner its grantor such that items of income, deduction, and credit “passed through to Petitioner and Petitioner is entitled to a credit or a refund of amounts paid by the Liquidating Trustee to Respondent.” We accept petitioner’s concession. On brief, the parties focus their arguments primarily on whether respondent’s abatement was of an erroneous assessment as defined under section 6404(a)(3). 6214(a), and “may exercise jurisdiction only to the extent authorized by Congress”, Estate of Gudie v. Our determination regarding the propriety of the assessments of tax against the MCLT would, therefore, not redetermine the correct amount of petitioners’ 2002 deficiency. [44] Respondent also argues that this Court lacks jurisdiction because petitioners “do not raise viable underlying liability issues” under sec. Because we find infra that petitioners’ claim of overpayments from prior years is time barred, we need not address respondent’s additional argument.

[10] On August 8, 1985, the bankruptcy court confirmed an amended consolidated plan of reorganization (plan). [13] Although the record is silent as to when and on behalf of which taxpayer, Mr. The joint motion sought the bankruptcy court’s approval of a compromise and settlement of the tax liabilities, addressed in the above-mentioned RARs, of Holywell and its subsidiaries, the MCLT, and petitioner’s bankruptcy estate. They assert that the Court did not address whether the MCLT was a grantor trust and that the Court “did not overrule the Bankruptcy Court with respect to its finding * * *, the Supreme Court merely said that Petitioner is not a `grantor’ in the classic sense of the term.” Petitioners are wrong. Petitioners cannot, as a basis for collateral estoppel, rely on the bankruptcy court’s findings that the MCLT was a grantor trust since its finding, in that respect, did not survive the Supreme Court’s reversal of the Court of Appeals. Upon receipt of the MCLT’s amended 19 Forms 1041, respondent assessed MCLT’s 1997 tax liability of ,871,041, and its 1998 tax liability of ,672,291. If an assessment is properly abated, the abatement entirely extinguishes the assessment. Although it was not raised by either party, this Court may question jurisdiction at any time, even after the case has been tried and briefed.

FEDERAL DEPOSIT INSURANCE CORPORATION, the Kempton Company,as Plan Administrator, Oklahoma Bankers Association Insurance Trust, and as Trustees, Robert Hollis, George Hauger, Harry Leonard, John Lowry, Ralph Mc Calmont, F. This new provision--known as COBRA--provides that an employee whose employment terminates, other than for gross misconduct, is entitled to continued coverage under his employer's ERISA plan for 18 months after his employment terminates or until the "date on which the employer ceases to provide any group health plan to any employee." 29 U. Bixby additionally ceased to be a member of the OBA and ceased to pay premiums to maintain its plan as required by the contract with the OBA. First, he argues that he relied on the oral assurances of plan administrators that he would continue to receive coverage in the event of Bixby's demise and that he accordingly is entitled to coverage on equitable grounds.

On April 7, 1986, an ERISA continuation coverage obligation was signed into law. Bixby went into receivership at that time and officially ceased operations. The district court for the Northern District of Oklahoma rejected Leiding's claims and granted summary judgment for the defendants in three separate orders.1 Leiding appeals those rulings and raises two principal theories to support his claim to continued medical coverage.

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