IN RE TECHNICAL KNOCKOUT GRAPHICS, INC.

No. 87-5516.

833 F.2d 797 (1987)

In re TECHNICAL KNOCKOUT GRAPHICS, INC., a California corporation, Debtor. UNITED STATES of America, Appellant, v. TECHNICAL KNOCKOUT GRAPHICS, INC., a California corporation, Appellee.

United States Court of Appeals, Ninth Circuit.

Decided November 30, 1987.


Attorney(s) appearing for the Case

Gary D. Gray, Asst. Atty. Gen., Tax Div., Washington, D.C., for appellant.

Philip D. Dapeer, George & Dapeer, Los Angeles, Cal., for appellee.

Before WALLACE, HALL and LEAVY, Circuit Judges.


LEAVY, Circuit Judge:

The United States appeals from an order of the bankruptcy appellate panel, upholding a bankruptcy court decision that permitted the debtor to designate how any payments it made after filing a petition for reorganization under Chapter 11 of the Bankruptcy Code would be used to pay off various federal taxes it owed, 68 B.R. 463.

The question presented on appeal is whether a corporate debtor under a Chapter...

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