Carlisle: A 'Hollow Victory'?

3 Pages Posted: 2 Jun 2009 Last revised: 11 Sep 2015

See all articles by Karen C. Burke

Karen C. Burke

University of Florida Levin College of Law

Grayson M.P. McCouch

University of Florida Levin College of Law

Date Written: June 1, 2009

Abstract

Arthur Andersen LLP v. Carlisle is the first investor suit involving a failed Son-of-BOSS tax shelter to reach the Supreme Court. Although the Court rests its decision on procedural grounds under the Federal Arbitration Act, the case offers a tantalizing glimpse into the structure of the shelter transaction and the relationships between the various participants. This comment argues that the primary impact of the Court’s decision will be to invite tactical maneuvers by litigants seeking to delay litigation and avoid discovery.

Keywords: tax shelter, COBRA, Son-of-BOSS, arbitration, jurisdiction, fraud, professional responsibility, fee sharing, stock warrants, Carlisle, Curtis, Andersen, Bricolage, Clearmeadow, Tigers Eye, tax shelter promoter

JEL Classification: K34

Suggested Citation

Burke, Karen C. and McCouch, Grayson M.P., Carlisle: A 'Hollow Victory'? (June 1, 2009). San Diego Legal Studies Paper No. 09-013, Available at SSRN: https://ssrn.com/abstract=1412803 or http://dx.doi.org/10.2139/ssrn.1412803

Karen C. Burke (Contact Author)

University of Florida Levin College of Law ( email )

P.O. Box 117625
Gainesville, FL 32611-7625
United States

Grayson M.P. McCouch

University of Florida Levin College of Law ( email )

P.O. Box 117625
Gainesville, FL 32611-7625
United States

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