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Full-Text Articles in Law
Real Property, Scott Benjamin
Nonrecourse Financing And Tax Shelter Abuse: The Crane Doctrine Before And After The At Risk Provisions, Michael Gurwitz
Nonrecourse Financing And Tax Shelter Abuse: The Crane Doctrine Before And After The At Risk Provisions, Michael Gurwitz
Golden Gate University Law Review
This Comment will examine the history of nonrecourse financing and tax shelters from the fabled Crane holding to the new reality of the ARP. This will be done by dividing the Comment into four parts. Part I will discuss the period preceding the passage of the Tax Reform Act of 1976, focusing on the Crane doctrine and subsequent attempts by the Internal Revenue Service (IRS) to define and limit the use of nonrecourse debt. Part II will highlight the factors that contributed to the growing abuse of tax shelters. Part III, in general terms, will examine the statutory scheme of …
Running The Gauntlet Of "Undue Hardship" - The Discharge Of Student Loans In Bankruptcy, Janice E. Kosel
Running The Gauntlet Of "Undue Hardship" - The Discharge Of Student Loans In Bankruptcy, Janice E. Kosel
Golden Gate University Law Review
To remedy supposed abuse, a proposal was made which ultimately was enacted as section 523(a)(8) of the Bankruptcy Reform Act of 1978. Henceforth, such student loans would be dischargeable in bankruptcy only if "such loan first became due before five years. . . before the date of the filing of the petition; or . . . excepting such debt from discharge . . . will impose an undue hardship on the debtor and the debtor's dependents... ' This Article will first examine the legislative history of that provision and then review the case law implementing and interpreting the undue hardship …