JP ENERGY MARKETING, LLC v. COMMERCE AND INDUSTRY INSUR. CO.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the discharge from a portion of the liability for an undersecured nonrecourse obligation through a cash settlement gave rise to cancellation of indebtedness income
• determining that taxpayers realized cancellation of debt income where a creditor discharged their nonrecourse loans in exchange for cash settlements
• cancellation of nonrecourse debt without surrender of secured property results in COI income to extent canceled debt exceeds cash payment

Source: CourtListener parenthetical corpus (CC0).