Supreme Court Reverses 11th Circuit Court of Appeals in Florida Department of Revenue v. Piccadilly Cafeterias

Posted on June 16, 2008 by Morris James LLP
Fla. Dept. of Rev. v. Piccadilly Cafeterias, Inc., No. 07-312 (2008)

Today, the United States Supreme Court reversed the decision of the United States Court of Appeals for the Eleventh Circuit in Florida Department of Revenue v. Piccadilly Cafeterias, Inc., holding that the stamp tax exemption of  11 U.S.C. § 1146(a) does not apply to a transfer that is made prior to confirmation of a Chapter 11 plan.  This decision resolves a circuit split that pitted the Third Circuit (In re Hechinger Invs. Co. of Del., 335 F.3d 243 (3d Cir. 2003)) and Fourth Circuit (In re NVR, LP, 189 F.3d 442 (4th Cir. 1999)) against the Eleventh Circuit (In re Piccadilly Cafeterias, Inc., 484 F.3d 1299 (11th Cir. 2007) (per curiam)).

Justice Thomas delivered the opinion, in which Chief Justice Roberts and Justices Scalia, Kennedy, Souter, Ginsburg and Alito joined.  Justice Breyer filed a dissenting opinion, in which Justice Stevens joined.

The opinion is here.
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Business Bankruptcy Blog - June 16, 2008 8:46 PM
On June 16, 2008, the United States Supreme Court issued its decision in Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc., the case involving whether Section 1146(a) of the Bankruptcy Code, which exempts from stamp or similar taxes any asset...
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