Fried Frank > Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc.: Supreme Court Decision Denying Stamp Tax Exemption to Pre-Confirmation Sales in Chapter 11 Cases
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Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc.: Supreme Court Decision Denying Stamp Tax Exemption to Pre-Confirmation Sales in Chapter 11 Cases


By: Brad Eric Scheler, Jean E. Hanson, Gary L. Kaplan, Brian D. Pfeiffer, Alan N. Resnick, Bonnie Steingart, Kalman Ochs

In the case of Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc., the United States Supreme Court ruled that the exemption from the payment of stamp taxes or similar taxes on transfers of property of a Chapter 11 debtor’s estate, contained in section 1146(a) of the Bankruptcy Code, does not apply to transfers of property made before a Chapter 11 plan is confirmed.

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