BORDEN v. DISTRICT OF COLUMBIA

No. 79-649.

417 A.2d 402 (1980)

William L. and Georgia I. BORDEN, Appellants, v. DISTRICT OF COLUMBIA, Appellee.

District of Columbia Court of Appeals.

Decided June 16, 1980.


Attorney(s) appearing for the Case

William L. Borden, pro se.

Edward E. Schwab, Asst. Corp. Counsel, Washington, D. C., with whom Judith W. Rogers, Corp. Counsel, and Richard W. Barton, Deputy Corp. Counsel, Washington, D. C., were on the brief, for appellee. Robert E. McCally, Richard L. Aguglia, James E. Lemert and Robert J. Harlan, Jr., Asst. Corp. Counsels, Washington, D. C., also entered an appearance for appellee.

Before NEBEKER, MACK and PRYOR, Associate Judges.


MACK, Associate Judge:

Appellants/taxpayers dispute the District of Columbia's determination that the sale of certain collateral held by a bank was a taxable event for them. The bank mistakenly sold appellants' pledged securities and, upon discovery of the error, repurchased the stock. The trial court agreed with the District that the bank's action constituted a sale and later repurchase of the stock by the taxpayers.

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