Foreign Investor Group Appeals US Tax on Asset Manager Earnings

A Cayman Islands investment partnership challenged a US Tax Court ruling on Monday, contesting nearly $96.8 million in liabilities related to its affiliated New Jersey management firm.

YA Global Investments LP asked the US Court of Appeals for the Third Circuit to review a February decision that it failed to withhold taxes on income from Yorkville Advisors from 2006 through 2009. YA Global entered a stipulated decision and retained the right to appeal, according to the order signed by Judge James S. Halpern.

• The IRS asserts that YA Global failed to comply with IRC Section 1446, which requires ...