Hurricane Iris (1995) the northwest, the hurricane moved over Montserrat, causing additional problems on the island just weeks after the Soufrière Hills volcano began erupting. Officials on the island closed the primary airport due to the storm, which prevented residents from evacuating from the island from the volcano threat. Further north, Iris dropped of rain on Antigua, which destroyed banana trees and caused flooding in low-lying areas. Due to uncertainties in Iris' track, the government of Bermuda issued a tropical storm watch on September 1. This was downgraded on September 3 after the hurricane bypassed the island. Later, after Iris became extratropical, the
Long-Term Capital Holdings v. United States After a bench trial, Judge Janet Bond Arterton ruled, on August 27, 2004, that the transactions employed by Long-Term Capital Holdings did not have economic substance and so were disregarded for tax purposes. Long-Term Capital Holdings v. United States Long Term Capital Holdings v. United States, 330 F. Supp. 2d 122 (D. Conn. 2004), was a court case argued before the United States District Court for the District of Connecticut that concerned a tax shelter used by Long-Term Capital Management, a failed hedge fund. The tax shelter had been designed by Babcock & Brown for Long-Term Capital to shelter it's