Debtor Seeks En Banc Review Of Tax Ruling, Says $50M Refund Belongs In Estate

Debtor Seeks En Banc Review Of Tax Ruling, Says $50M Refund Belongs In Estate

ATLANTA - Bankrupt Bankunited Financial Corp. on Sept. 4 filed a petition for rehearing en banc in the 11th Circuit U.S. Court of Appeals, contending that the appellate panel wrongly ruled that the Federal Deposit Insurance Corp. had rights to a $50 million tax refund because it didn't belong to the bankruptcy estate. Bankunited argues that en banc review is warranted because the appellate panel's ruling conflicts with precedent and the Bankruptcy Code (Bankunited Financial Group v. Federal Deposit Insurance Corporation $(In Re: Bankunited Financial Group$), No. 12-11392, Chapter 11, 11th Cir.).

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