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(DOWNLOAD) "Rtc Commercial Assets Trust 1995-Np3-1 v. Bond" by Seventh Circuit U.S. Court of Appeals ~ Book PDF Kindle ePub Free

Rtc Commercial Assets Trust 1995-Np3-1 v. Bond

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eBook details

  • Title: Rtc Commercial Assets Trust 1995-Np3-1 v. Bond
  • Author : Seventh Circuit U.S. Court of Appeals
  • Release Date : January 17, 1999
  • Genre: Law,Books,Professional & Technical,
  • Pages : * pages
  • Size : 74 KB

Description

This case presents an aspect of the fallout from the savings and loan debacle of the 1980s. On one level, it concerns local real estate taxes on property held by a failed institution, and the liens and penalties associated with those taxes. As a preliminary matter, however, it requires us to decide whether the Tax Injunction Act (TIA), 28 U.S.C. sec. 1341, precludes the district court from adjudicating some or all of the claims presented. The district court thought that the TIA barred jurisdiction for three out of four counts of the complaint, on the ground that the remedies sought effectively would impair the ability of Cook County, Illinois, to collect taxes. It exercised jurisdiction over a fourth count, which raised the question whether tax penalties could attach to properties held by the Resolution Trust Corporation ("RTC"). RTC Commercial Assets Trust 1995-NP3-1 ("RTC Trust"), which purchased interests in the property from RTC itself, has appealed both the jurisdictional ruling and the aspects of the courts substantive ruling that were adverse to it.


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