COBB v. CALLAN COURT COMPANY

No. 17648.

274 F.2d 532 (1960)

Paul COBB, Former District Director of Internal Revenue, Appellant, v. CALLAN COURT COMPANY, Appellee. UNITED STATES of America, Appellant, v. W. H. CHAMBERS and Mrs. Rena C. Chambers, Appellees.

United States Court of Appeals Fifth Circuit.

January 29, 1960.


Attorney(s) appearing for the Case

Grant W. Wiprud, Jerome S. Hertz, Harry Baum, Attys., Dept. of Justice, Washington, D. C., Charles D. Read, Jr., U. S. Atty., Atlanta, Ga., Lee A. Jackson, Atty., Dept. of Justice, Charles K. Rice, Asst. Atty. Gen., D. of J., Washington, D. C., Slaton Clemmons, Asst. U. S. Atty., Atlanta, Ga., for appellant.

M. E. Kilpatrick, Atlanta, Ga. (Smith, Kilpatrick, Cody, Rogers & McClatchey, Atlanta, Ga., of counsel), for appellees.

Before HUTCHESON, CAMERON and JONES, Circuit Judges.


JONES, Circuit Judge.

The controversies here presented arise out of the somewhat complex corporate history of the Atlanta Biltmore Hotel Company, herein usually called the Old Company, and its successor, the Atlanta Biltmore Hotel Corporation, which will be referred to as the New Company. The primary question in the case of Cobb v. Callan Court Company is whether distributions to Callan in 1950 from the New Company in redemption of its preferred stock were in partial...

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