Archive - August 2015
Carried Interest Loophole – Maybe not in Texas! August 24, 2015
A few days ago the U.S. District Court for the Southern District of Texas issued an opinion that offers a glimpse into the 5th Circuit’s thinking on the carried interest issue. The decision is United States v. Stewart et al. and could be found here. In this case the U.S. sued two partners in an oil and gas partnership. The facts are as follows. In year 2003, an investor named Hydrocarbon Capital, decided to acquire a portfolio of oil and gas properties from an unrelated corporation. However, the investor did not have the expertise to run and manage the properties. Therefore it...