Little Bay, Montserrat the UK Government's Department for International Development. Little Bay, Montserrat Little Bay is a town under construction, intended to be the future capital of the Caribbean island of Montserrat. It is adjacent to Brades. The official capital of Montserrat at Plymouth in the south of the island was abandoned since 1997 after it was buried by the eruption of the Soufriere Hills volcano. Interim government buildings have since been built at Brades, becoming the political capital in 1998. The move was initially intended to be temporary, but it has remained the island's "de facto" capital ever since. The project is
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