5th Circuit: Wren Alexander Owes $173M In Taxes It Inherited Prior To Bankruptcy

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on June 4 affirmed a lower court's decision that held that a debtor company was liable for $173 million IRS tax lien despite that fact that the lien was originally levied against the previous owner of a property the debtor purchased prior to bankruptcy (Wren Alexander Investments LLC v. Internal Revenue Service $(In Re: Wren Alexander Investments LLC$), No. 12-50376, Chapter 11, 5th Cir.; 2013 U.S. App. LEXIS 11315).

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