RCT WINS TENTH CIRCUIT APPEAL
On November 13, 2014, RCT prevailed against an international insurance company in an appeal to the U.S. Court of Appeals for the Tenth Circuit concerning a $112 million abusive tax shelter. RCT convinced the court that the insurance company’s attempt to use federal interpleader was—as the court concluded—a “thinly veiled attempt to cap its potential liability” to RCT’s clients. In obtaining this favorable ruling, RCT successfully distinguished two prior Tenth Circuit cases involving similar facts that have been binding precedent for almost 60 years. See Aviva Life and Annuity Company v. White (In re Millennium Multiple Employer Welfare Benefit Plan), — F.3d —, 2014 WL 6056941 (10th Cir. 2014).
Prior results do not guarantee a similar outcome.