Liberty Global Appeals Court’s Denial of $110 Million Tax Refund

Liberty Global Inc. asked the US Court of Appeals for the Tenth Circuit to revive its $110 million refund claim after a lower court concluded that the telecommunications company wasn’t entitled to deduct income from a series of international transactions.

The US District Court for the District of Colorado in November granted summary judgment favoring the US because it concluded that the only substantial purpose of LGI’s transactions were tax avoidance. LGI notified the court on Wednesday of its appeal.

• LGI’s transactions were “‘structured from the outset’ not to yield any meaningful economic benefits to the company,” but were instead ...