How have the courts interpreted the totality of the totality-of-the-circumstances test for determining that the Dutch banks' interest in the partnership was not "bona fide equity participation"?

We reversed the judgment. Applying the totality-of-the-circumstances test of Commissioner v. Culbertson, 337 U.S. 733, 69 S.Ct. 1210, 93 L.Ed. 1659 (1949), we found that the evidence compelled the conclusion that the Dutch banks' interest was overwhelmingly in the nature of a secured lender's interest, which would neither be harmed by poor performance of the partnership nor significantly enhanced by extraordinary profits. TIFD IIIE, 459 F.3d at 231. Accordingly, we ruled that the banks' interest was not bona fide equity participation. Id.