date:Sep 27, 2012
where a lack of security regarding repayment and schedules to govern this were factors that struck out a debt-based relationship for the securities.
The judge concluded that the principle issue centered on the IRS assertion that the transactions in question evinced a clear intention to structure creditor-debtor arrangements.
PepsiCo Inc. and its affiliates disputed that characterization, he said, insisting instead that the advance agreements were legitimate equity instruments for Federal inco