DOha: Qatar First Bank (QFB) on Sunday announced that one of its subsidiaries has signed a conditional sale contract
to sell its full stake of 40 percent in EHM Magazacilik San (English Home), which is incorporated in Turkey to a company wholly owned by the Aydin family.
It was previously observed that the use of the wraparound arrangement to circumvent the "mortgage-over-basis problem" was based on three early tax court cases, Stonecrest,(19) Lamberth,(20) and United Pacific.(21) All of these cases involved the use of a conditional sale contract
(i.e., a sale in which the legal title to the property is retained by the seller until all or some portion of the purchase price is paid by the buyer).