IRS Adversary Proceeding definition

IRS Adversary Proceeding means the adversary proceeding in the Chapter 11 Case captioned Ambac Financial Group, Inc. and The Official Committee of Unsecured Creditors v. United States of America, Adv. Pro. No. 10-4210 (SCC) and any and all actions or proceedings relating thereto.
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Examples of IRS Adversary Proceeding in a sentence

  • Among other issues involved in the IRS Adversary Proceeding, the Debtor has taken the position that the CDS which resulted in impairment losses are properly characterized as notional principal contracts for federal income tax purposes.

  • On June 15, 2011, the parties agreed to extend the deadlines to (i) complete fact discovery in the IRS Adversary Proceeding to September 9, 2011, and (ii) file dispositive motions to September 23, 2011.

  • As of this date, no hearing on the Preliminary Injunction has been scheduled.On January 13, 2011, the IRS filed a motion in the District Court to withdraw the IRS Adversary Proceeding from the Bankruptcy Court to the District Court.

  • The Bankruptcy Court also approved a scheduling order which, among other things, ordered (i) fact discovery in the IRS Adversary Proceeding to be completed by August 5, 2011, (ii) dispositive motions to be filed by September 16, 2011, and (iii) trial to be scheduled thereafter, pursuant to further order of the Bankruptcy Court.

  • The parties further agreed that if the terms of a consensual Plan are subsequently agreed upon by and among OCI, AAC, the Debtor and the Committee, the Payment shall be credited towards any agreed obligation for AAC to reimburse the Debtor for a percentage share of the fees and disbursements incurred in the IRS Adversary Proceeding.

  • On January 13, 2011, the IRS filed a motion, pursuant to 28 U.S.C. § 157(d), to withdraw the reference (the “Motion to Withdraw”) so that the IRS Adversary Proceeding may be heard in the United States District Court for the Southern District of New York (the “District Court”).

  • Because of the profound impact the resolution of the IRS Adversary Proceeding will have on the structure of a Plan, whether proposed by the Debtor or another party, and the availability of recoveries pursuant thereto, the management of the IRS Adversary Proceeding, including the Motion to Withdraw, has been a significant focus of the Debtor’s officers, employees and professionals and has required a great deal of their time and effort.

  • While the Debtor continues to negotiate with the Committee and OCI regarding the terms of a Plan, an expedited resolution of the IRS Adversary Proceeding is in the best interest of all parties.

  • Notwithstanding that the Motion to Withdraw is now pending in the District Court, pursuant to Rule 5011(c) of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”), the IRS Adversary Proceeding is not stayed.

  • Accordingly CAA needs to create a separate rule to cover hot air balloon operations.”• “Since there is already a regime that adequately provides for appropriate management systems, structures, and operations procedures...

Related to IRS Adversary Proceeding

  • Adjudicatory proceeding means a contested case, a proceeding that may culminate in a contested case, a petition for declaratory order, a petition for expedited resolution of a negotiability dispute, or any other proceeding which may require the board or its designee to issue a decision, order, or ruling.

  • Regulatory Proceeding means a request for information, civil investigative demand, or civil proceeding commenced by service of a complaint or similar proceeding brought by or on behalf of the Federal Trade Commission, Federal Communications Commission, or any federal, state, local or foreign governmental entity in such entity’s regulatory or official capacity in connection with such proceeding.

  • Disciplinary proceeding means an adjudicative proceeding permitted under this

  • winding-up proceedings means collective proceedings involving realisation of the assets and distribution of the proceeds among the creditors, shareholders or members as appropriate, which involve any intervention by administrative or judicial authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;

  • third party proceeding means any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the corporation.

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.

  • ADR Proceeding means either an Arbitration or a Mediation.

  • Adjudicative proceeding means the procedure to be followed in contested cases, as set forth in RSA 541-A:31 through RSA 541-A:36.

  • Child custody proceeding means a proceeding in which legal custody, physical custody, or visitation with respect to a child is an issue. The term includes a proceeding for divorce, separation, neglect, abuse, dependency, guardianship, paternity, termination of parental rights, and protection from domestic violence in which the issue may appear. The term does not include a proceeding involving juvenile delinquency, contractual emancipation, or enforcement under Part 3 of this Article.

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Protective proceeding means a judicial proceeding in which a protective order is sought or has been issued.

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

  • Delinquency proceeding means a proceeding instituted against an insurer for the purpose of liquidating, rehabilitating, reorganizing or conserving the insurer, and a summary proceeding under section 507C.9 or 507C.10. “Formal delinquency proceeding” means any liquidation or rehabilitation proceeding.

  • CCAA Proceedings means the proceedings commenced by the Applicant under the CCAA as contemplated by the Initial Order;

  • eligible proceeding means a legal proceeding or investigative action, whether current, threatened, pending or completed, in which a director, former director or alternate director of the Company (an “eligible party”) or any of the heirs and legal personal representatives of the eligible party, by reason of the eligible party being or having been a director or alternate director of the Company:

  • Criminal proceeding means a proceeding instituted by means of the swearing of an information, the laying of a charge or the return of an indictment, before a Court of competent jurisdiction in Canada with jurisdiction to hear and determine the charges referred to therein, alleging or charging that the "Insured" has contravened the provisions of any Provincial or Federal statute, including the Criminal Code, R.S.C. 1985 ch. C-46 as amended, which creates an offence or crime and which provides for conviction thereunder, whether by way of summary conviction or indictment, and as a result of which the "Insured" is liable to be convicted, fined or sentenced to some form of imprisonment or other punishment.

  • Proceeding means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened.

  • foreign proceeding means a collective judicial or administrative proceeding in a foreign State, including an interim proceeding, pursuant to a law relating to insolvency in which proceeding the assets and affairs of the debtor are subject to control or supervision by a foreign court, for the purpose of reorganization or liquidation;

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Tax Proceeding has the meaning set forth in Section 5.2(a).

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Priority Non-Tax Claim means any Claim other than an Administrative Expense Claim or a Priority Tax Claim, entitled to priority in payment as specified in section 507(a) of the Bankruptcy Code.

  • Lawsuit means any lawsuit, arbitration or other dispute resolution filed by either party herein pertaining to any of this Warrant, the Facility Agreement and the Registration Rights Agreement.

  • dispute resolution proceeding ’ means any process in which an alternative means of dispute resolution is used to resolve an issue in controversy in which a neutral is appointed and specified parties participate;

  • Testacy proceeding means a proceeding to establish a will or determine intestacy.