Montserrat of Montserrat is approximately east-southeast of Puerto Rico and southwest of Antigua. The island lies north-northwest of Suriname and French Guiana (France). It comprises and is gradually increasing owing to the buildup of volcanic deposits on the southeast coast. The island is long and wide, with rock cliffs rising above the sea and a number of smooth bottomed sandy beaches scattered among coves on the western (Caribbean) side of the island. Montserrat has two islets, Virgin and Statue Rock. In July 1995, Montserrat's Soufrière Hills volcano, dormant for centuries, erupted and soon buried the island's capital, Plymouth, in more than
Long-Term Capital Holdings v. United States 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 short-term trading gains from 1997. The case was an appeal of an Internal Revenue Service denial of the plaintiffs' claim of $106,058,228 in capital losses during the 1997 tax year and associated penalties.