This Month in M&A - September 2012

September 2012

This Month's Features:

  • Section 355 monetization transaction subject to section 367(a) ruled not a "device" (PLR 201232014)
  • Equity investor held not a bona fide partner in partnership (Historic Boardwalk Hall, LLC v. Comm'r)
  • Preferred stock found to be non-qualified preferred stock, thereby denying intended capital loss planning (Gerdau MacSteel v. Comm'r)
  • Transferor met the section 351(a) control requirement notwithstanding the transferee corporation's shares were directly issued to unrelated persons (PLR 201232030)
  • PwC highlights issues in guidance on outbound asset reorganizations (PwC comment letter to Notice 2012-39)

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Tim Lohnes
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