United States: Whose Refund Is It? Ninth Circuit Holds Tax Refund Belongs To Bankruptcy Estate Of Bank Holding Company, Not To Receivership Estate Of Subsidiary Bank – WilmerHale

: We previously reported on the Eleventh Circuit’s decisions in BankUnited and NetBank in which the Eleventh Circuit held that tax refunds attributable to losses incurred by an insolvent bank but received by the bank’s holding company belonged to the FDIC, as receiver for the bank, rather than to the holding company’s bankruptcy estate.