Court of Appeals for the Ninth Circuit September 23, 1982, 81-7335 (Keller Street Development Company v. Commissioner of Internal Revenue)

HUG, Circuit Judge:

I

OVERVIEW

Keller Street Development Company (“Keller”) appeals the Tax Court’s decision that certain monies, received by Keller as a result of a sale of assets and subsequent litigation, are to be treated as ordinary income. Keller sold a brewery to Maier Brewing Company (“Maier”) in 1958. The day after the sale, Keller’s minority shareholders brought a derivative suit.