CENTEX CORP. v. U.S.

Nos. 2006-5105, 2006-5108.

486 F.3d 1369 (2007)

CENTEX CORPORATION and CTX Holding Company, Plaintiffs-Appellants, v. UNITED STATES, Defendant-Appellee. First Heights Bank, FSB, Pulte Diversified Companies, Inc., and Pulte Homes, Inc., Plaintiffs-Appellants, v. United States, Defendant-Appellee.

United States Court of Appeals, Federal Circuit.

May 17, 2007.


Attorney(s) appearing for the Case

Kent A. Yalowitz, Arnold & Porter LLP, of New York, NY, argued for plaintiffs-appellants, CTX Holding Company, et al. With him on the brief were J. Alex Brophy of New York, NY, and Melvin C. Garbow, Howard N. Cayne, and Thomas R. Dwyer, of Washington, DC.

Robert K. Huffman, Miller & Chevalier, Chartered, of Washington, DC, argued for plaintiffs-appellants, First Heights Bank, et al. With him on the brief were Emmett B. Lewis and Alan I. Horowitz.

Scott D. Austin, Attorney, Commercial Litigation Branch, Civil Division, United States Department of Justice, of Washington, DC, for defendant-appellee. With him on the brief were Stuart E. Schiffer, Deputy Assistant Attorney General, David M. Cohen, Director, Jeanne E. Davidson, Deputy Director and Jeffrey T. Infelise, Trial Attorney.

Before BRYSON and LINN, Circuit Judges, and ROBINSON, District Judge.


BRYSON, Circuit Judge.

In 1989, the plaintiffs in these consolidated cases entered into contracts with the United States by which they agreed to acquire failing thrifts insured by the government. In exchange, the parties contemplated that the plaintiffs would receive certain financial benefits, including favorable tax treatment. Congress subsequently became disenchanted with the arrangements and, in 1993, retroactively eliminated the tax benefits by enacting legislation...

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