IRC Section 108(e)(8) Paper:  Mr. Pace's position paper on the cancellation of indebtedness from the issuance of a partnership interest under IRC Section 108(e)(8) presented in Washington D.C. in May 2007 can be found at the link below on the Los Angeles County Bar Association website.  The paper discusses some of the history of IRC Section 108(e)(8) and many of the valuation and other problems and issues with that IRC Section that may prove troublesome in a downturning economy.