FEDERAL EXP. CORP. v. UNITED STATES

No. 83-2474 GA.

645 F.Supp. 1281 (1986)

FEDERAL EXPRESS CORPORATION, Plaintiff, v. UNITED STATES of America, Defendant.

United States District Court, W.D. Tennessee, W.D.

October 7, 1986.


Attorney(s) appearing for the Case

Saul Belz, Earl J. Schwarz, Memphis, Tenn., for plaintiff.

Jack D. Warren, Tax Div., Dept. of Justice, Washington, D.C., for defendant.


MEMORANDUM OPINION

GIBBONS, District Judge.

Plaintiff Federal Express Corporation, a Delaware corporation with its principal place of business in Memphis, Tennessee, has brought this action under 28 U.S.C. § 1346(a)(1) to recover an alleged over-payment of taxes for the years 1978 and 1979.

Pursuant to a Purchase Agreement dated November 9, 1973, Federal Express sold 122,500 shares of Convertible Preferred Stock, $100 par value, and $12,250...

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