Taxation of Exchanges and Distributions Pursuant to Antitrust Decrees: Hearing Before the Committee on Ways and Means, House of Representatives, Eighty-seventh Congress, First Session, on Taxation of Exchanges and Distributions Pursuant to Antitrust Decrees, August 24, 1961Focuses on court-ordered divestiture of General Motors Corp. by E.I. du Pont de Nemours. Contains numerous court documents relating to U.S. v du Pont de Nemours. |
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acquisition amended amici amici curiae antitrust divestiture antitrust laws antitrust order appellant appellees basis BOGGS BYRNES capital gains tax CHAIRMAN Christiana and Delaware Clayton Act committee common stock Congress Department of Justice distributing corporation distribution of divested distribution of stock District Court divested stock divestiture decree E. I. du Pont effect enacted enforcing the antitrust equity exchange fair market value Federal Trade Commission Government Government's GREENEWALT Hartford-Empire Co hearing holders Holding Company Act impact income tax interest Internal Revenue Code International Salt Co investment investors legislation market price Mason bill ment Motors shares Motors stock OBERDORFER orders enforcing ordinary income Paskus percent Pont common Pont de Nemours Pont shareholders Pont shares Pont stock Pont stockholders Pont's present law provisions remedy result Section 11 sell Sherman Act statute stock distributed substantial Supp Supreme Court tax consequences tax laws taxable tion trust United violation voting rights
Popular passages
Page 183 - That no corporation engaged in commerce shall acquire, directly or indirectly, the whole or any part of the stock or other share capital of another corporation engaged also in commerce, where the effect of such acquisition may be to substantially lessen competition between the corporation whose stock is so acquired and the corporation making the acquisition, or to restrain such commerce in any section or community, or tend to create a monopoly of any line of commerce.
Page 441 - Board shall state its findings of fact and shall issue and cause to be served on such person an order requiring such person to cease and desist from such unfair labor practice, and to take such affirmative action including reinstatement of employees with or without back pay, as will effectuate the policies of this Act...
Page 140 - Jurisdiction is retained for the purpose of enabling any of the parties to this Final Judgment to apply to this Court at any time for such further orders and directions as may be necessary or appropriate for the construction or carrying out of this Final Judgment, or the modification or termination of any of the provisions thereof or for the enforcement of compliance therewith or for the punishment of violations thereof.
Page 459 - The several circuit courts of the United States are hereby invested with jurisdiction to prevent and restrain violations of this act; and it shall be the duty of the several district attorneys of the United States, in their respective districts, under the direction of the Attorney General, to institute proceedings in equity to prevent and restrain such violations.
Page 58 - If property (as a result of its destruction in whole or in part, theft, seizure, or requisition or condemnation or threat or imminence thereof) is compulsorily or involuntarily converted — (1) Conversion into similar property. Into property similar or related in service or use to the property so converted, no gain shall be recognized.
Page 7 - ... at least 80 percent of the total combined voting power of all classes of stock entitled to vote, and at least 80 percent of the total number of shares of all other classes of stock (except nonvoting stock which is limited and preferred as to dividends...
Page 460 - Commission that a proceeding by it in respect thereof would be to the interest of the public, it shall issue and serve upon such person, partnership, or corporation a complaint stating its charges in that respect, and containing a notice of a hearing upon a day and at a place therein fixed at least thirty days after the service of said complaint.
Page 461 - After the expiration of the time allowed for filing a petition for review, If no such petition has been duly filed within such time...
Page 461 - Commission may at any time, after notice and opportunity for hearing, reopen and alter, modify, or set aside, in whole or in part, any report or order made or issued by it under this section, whenever in the opinion of the Commission conditions of fact or of law have so changed as to require such action or if the public interest shall so require...
Page 8 - Whether or not the distribution is pro rata with respect to all of the shareholders of the distributing corporation.