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when the burdens and benefits of ownership of the telephone
systems changed hands, were petitioner, as seller, and the
subsidiary, as buyer. The third-party customer, who held a
contractual right prior to the sale, was not a party to the sale
of the underlying contractual property. The intermediary
ownership by the third-party customers of a contractual right to
receive property in the future is ignored in determining whether
an intercompany transaction occurred.
We have considered all remaining arguments made by
respondent for a result contrary to that expressed herein, and,
to the extent not discussed above, they are irrelevant or without
merit. Petitioner’s motion for partial summary judgment will be
granted, and respondent’s motion for partial summary judgment
will be denied.
To reflect the foregoing,
An appropriate order will
be issued.
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Last modified: May 25, 2011