The bankrupt Advanta Corp. is in a dispute with its nonbankrupt subsidiary Advanta Bank Corp. over whether to file a tax return and carry back losses for five years, in the process generating a $54 million tax refund.

The bank, which had been one of the country's largest credit card issuers, drew first blood by filing an emergency motion on March 12 asking the bankruptcy court to compel the holding company to generate the refund by filing a 2009 tax return carrying back losses for five years. If the holding company claimed the refund, the bank would have a $170 million claim against the parent arising under a tax-sharing agreement.

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