IN RE RUSSELL

No. 89-2763WA.

927 F.2d 413 (1991)

In re Herbert E. RUSSELL. William Russell GIBSON and F.H. Martin, Co-Trustees of the Estate of Herbert E. Russell, Appellants, v. UNITED STATES of America, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided March 7, 1991.


Attorney(s) appearing for the Case

Charles Baker, Little Rock, Ark., for appellants.

Calvin Curtis, Washington, D.C., for appellee.

Before JOHN R. GIBSON, MAGILL, and BEAM, Circuit Judges.


MAGILL, Circuit Judge.

In this tax refund action, William Russell Gibson, the bankruptcy trustee,1 appeals from the district court's order affirming the bankruptcy court's granting of summary judgment for the Internal Revenue Service. Gibson argues on appeal that a bankruptcy trustee has the power, under 11 U.S.C. §§ 548, 549 (1988), to avoid a debtor's pre- and postpetition irrevocable elections to carry forward net operating...

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