Barlow v. CIR

Court of Appeals for the Sixth Circuit·Decided August 21, 2002·No. 01-1161·Published

Opinion

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21 3XUVXDQW WR 6L[WK &LUFXLW 5XOH 

(/(&7521,& &,7$7,21  )(' $SS 3 WK &LU )LOH 1DPH DS

81,7('67$7(6&28572)$33($/6 )257+(6,;7+&,5&8,7 BBBBBBBBBBBBBBBBB

0<521 %$5/2:DQG$5/(1( ; %$5/2:  3HWLWLRQHUV$SSHOODQWV   1R  Y !   &200,66,21(5 2) ,17(51$/  5(9(18(  5HVSRQGHQW$SSHOOHH    1 2Q$SSHDOIURPWKH8QLWHG6WDWHV7D[&RXUW 1RV +RZDUG$'DZVRQsU7D[&RXUWsXGJH $UJXHG0D\ 'HFLGHGDQG)LOHG$XJXVW %HIRUH6,/(5DQG&/$<&LUFXLWsXGJHV 2%(5'25)(5'LVWULFWsXGJH

7KH +RQRUDEOH /RXLV ) 2EHUGRUIHU 8QLWHG 6WDWHV 'LVWULFW sXGJH IRU WKH 'LVWULFW RI &ROXPELD VLWWLQJ E\ GHVLJQDWLRQ

  %DUORZHWDOY&RPPLVVLRQHU 1R

BBBBBBBBBBBBBBBBB &2816(/ $5*8('  1HDO 1XVKROW] 129(&.  186+2/7= %LQJKDP)DUPV0LFKLJDQIRU$SSHOODQWV/DXULH6Q\GHU 81,7(' 67$7(6 '(3$570(17 2) s867,&( :DVKLQJWRQ '& IRU $SSHOOHH  21 %5,()  1HDO 1XVKROW] 129(&.  186+2/7= %LQJKDP )DUPV 0LFKLJDQIRU$SSHOODQWV/DXULH6Q\GHU%UXFH5(OOLVHQ 81,7(' 67$7(6 '(3$570(17 2) s867,&( :DVKLQJWRQ'&IRU$SSHOOHH BBBBBBBBBBBBBBBBB 23,1,21 BBBBBBBBBBBBBBBBB &/$<&LUFXLWs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jV UXOLQJ ILQGLQJ WKHP OLDEOH IRU QHJOLJHQFH DQG D WD[PRWLYDWHG LQWHUHVW SHQDOW\  )RU WKH UHDVRQVVHWIRUWKEHORZZH$)),50WKH7D[&RXUWjVRUGHUV %$&.*5281' 3URFHGXUDO+LVWRU\ 3HWLWLRQHUVFODLPHGORVVHVRQWKHLULQFRPHWD[UHWXUQVIRU DQGLQYHVWPHQWDQGHQHUJ\FUHGLWVRQWKHLU UHWXUQEDVHGXSRQDQLQYHVWPHQWPDGHLQLQDSODVWLFV 1R %DUORZHWDOY&RPPLVVLRQHU 

UHF\FOLQJOLPLWHGSDUWQHUVKLSWD[VKHOWHUNQRZQDV'LFNLQVRQ 5HF\FOLQJ$VVRFLDWHV m'LFNLQVRQl ,Q6HSWHPEHURI 3HWLWLRQHUVDPHQGHGWKHUHWXUQVLQRUGHUWRVDWLVI\DQWLFLSDWHG XQGHUSD\PHQWV RI WD[ DWWULEXWDEOH WR WKH ORVVHV DQG FUHGLWV WKH\ FODLPHG LQ FRQQHFWLRQ ZLWK WKH WD[ VKHOWHU  ,W LV XQGLVSXWHG WKDW WKH SDUWQHUVKLS WUDQVDFWLRQV XQGHUO\LQJ WKH FODLPHGWD[EHQHILWVZHUHVKDPVWKDWWKHYDOXHRIWKHSODVWLF UHF\FOLQJPDFKLQHVZDVRYHUVWDWHGIRUWD[SXUSRVHVDQGWKDW DVDUHVXOWXQWLO3HWLWLRQHUVILOHGWKHDPHQGHGUHWXUQVWKH\ KDGXQGHUSDLGWKHLUWD[HVIRU 7KH &RPPLVVLRQHU RI ,QWHUQDO 5HYHQXH mWKH &RPPLVVLRQHUl  LVVXHG 3HWLWLRQHUV QRWLFHV RI GHILFLHQF\ DVVHUWLQJ DGGLWLRQV WR WD[ IRU QHJOLJHQFH IRU DOO IRXU \HDUV  LQWKHUHVSHFWLYHDPRXQWVRI DQG ,QWHUQDO5HYHQXH&RGH m,5&l † D  SOXV ILIW\ SHUFHQW RI WKH LQWHUHVW GXH RQ WKH SRUWLRQV RI WKH XQGHUSD\PHQWVDWWULEXWDEOHWRQHJOLJHQFH ,5&† D   DQG DQ DGGLWLRQ WR WD[ IRU YDOXDWLRQ RYHUVWDWHPHQW ,5& † IRU7KH&RPPLVVLRQHUDOVRFKDUJHG3HWLWLRQHUV LQLQWHUHVWRQWKHXQGHUSD\PHQWDVFRPSXWHG DWWKHLQFUHDVHGLQWHUHVWUDWHPDQGDWHGE\,5&† F IRU XQGHUSD\PHQWV DWWULEXWDEOH WR WD[PRWLYDWHG WUDQVDFWLRQV 3HWLWLRQHUV SDLG WKH †  F  LQWHUHVW EHIRUH FRPPHQFLQJ WKHVHSURFHHGLQJV ,QWKH7D[&RXUW3HWLWLRQHUVGLVSXWHGWKHDGGLWLRQVWRWD[ IRUQHJOLJHQFHRQIDFWXDOJURXQGVDQGVRXJKWDUHIXQGRIWKH †  F  LQWHUHVW WKH\ KDG SDLG IRU  RQ SURFHGXUDO JURXQGV3HWLWLRQHUVGLGQRWGLVSXWHWKDWWKH\ZHUHOLDEOHIRU WKHDGGLWLRQWRWD[XQGHU,5&†IRUQRUGLGWKH\ GLVSXWHWKDWWKHXQGHUSD\PHQWIRUZDVDWWULEXWDEOHWRD WD[PRWLYDWHG WUDQVDFWLRQ $OWKRXJK WKH IDFWV ZHUH ODUJHO\ VWLSXODWHG D WULDO ZDV KHOG ZLWK UHVSHFW WR WKH QHJOLJHQFH LVVXH  7ZR ZLWQHVVHV WHVWLILHG DW WULDO 3HWLWLRQHU 0\URQ %DUORZDQG)UHG*RUGRQWKHSURPRWHURIWKH'LFNLQVRQWD[ VKHOWHU 7KH 7D[ &RXUW LVVXHG DQ RSLQLRQ VXVWDLQLQJ WKH &RPPLVVLRQHUjV SRVLWLRQ LQ DOO UHVSHFWV  7KH 7D[ &RXUW  %DUORZHWDOY&RPPLVVLRQHU 1R 1R %DUORZHWDOY&RPPLVVLRQHU 

Free access — add to your briefcase to read the full text and ask questions with AI

Barlow v. CIR, (6th Cir. 2002).

Barlow v. CIR (Barlow v. CIR) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.