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Tax Refund Rule ‘Isn’t Implicated’ in Fight, SCOTUS Told

When the Supreme Court considers a case involving a parent-subsidiary tax dispute later this year, it shouldn’t delve into a rule that tells courts how to assign ownership of tax refunds because the issue is irrelevant, the Federal Deposit Insurance Corp. said in a reply brief.

Puerto Rico at Risk of $30 Billion Cut in U.S. Aid, Board Says

Puerto Rico may receive less federal disaster money than expected, a potential drag on an island that was counting on post-Hurricane rebuilding to help it recover from a years-long recession, according to a report from the commonwealth’s financial oversight board.

James Dondero’s No-Holds-Barred Highland Embraced Bankruptcy (1)

James Dondero doesn’t back down. That’s what helped him build Highland Capital Management into a credit giant that at one point oversaw $40 billion. But it has also embroiled the business in numerous lawsuits and the firm has dwindled to a quarter of that size.

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