David Abbott is a highly respected tax litigator and transactional lawyer. He advises clients across a broad range of critical issues, with a particular focus on key areas of corporate concern involving tax litigation.
David’s dispute resolution practice emphasizes tax litigation and controversy, as well as bankruptcy disputes. He has experience with tax audits and appeals, and represents clients before the Tax Court and the US Court of Federal Claims.
David’s current and past cases involve corporate acquisition-related issues, payment of acquisition-related fees and financing-related issues such as debt versus equity characterizations, debt/equity swaps, transfer pricing and tax treatment of leasing transactions, including LILOs and so-called “SILOs.”
In addition, David has represented equity investors in Chapter 11 bankruptcy cases involving several leading airlines with respect to aircraft lease Tax Indemnity Agreement claims.
Straddling his tax litigation and transactional work, David has extensive experience with valuations of business enterprises plus tangible and intangible assets. He works regularly with valuation experts to document and justify appraisal conclusions and present or defend them in tax audits and litigation.
On the transactional side, David represents equity investors, lenders and lessees in equipment and real estate leasing transactions, acquisition and divestiture of leasing portfolios and leasing subsidiaries and related tax-oriented financing structures and debt instruments.
His transactional tax counsel also encompasses valuation work acquisitions and divestitures, financial products, consolidated return regulations, general corporate taxation and partnership taxation.
Mayer Brown was recently named Tax Controversy Team of the Year for the second consecutive year in the Legal 500 United States Awards. “Mayer Brown is ‘among the best’ and fields a large team…dedicated exclusively to tax controversy and transfer pricing,” said Legal 500 and its sources in the US edition.
The firm is “regularly seen in the most high-profile controversy cases before the US Tax Court” and produced “yet another impressive run of work” in 2014.
- US Supreme Court
- US Court of Appeals for the Second Circuit
- US Court of Appeals for the Federal Circuit
- US Court of Federal Claims
- US Tax Court
- CIBC USA Holdings, Inc., formerly known as, CIBC Delaware Holdings, Inc. and Subsidiaries v. United States, in the United States Court of Federal Claims (allocation of deductible expense, Complaint filed 16 September 2016).
- Exelon Corporation, as successor by merger to UNICOM Corporation and Subsidiaries v. United States, in the United States Court of Federal Claims (interest netting, Complaint filed 29 July 2016).
- UnionBanCal Corporation & Subsidiaries v. The United States, in the US Court of Federal Claims, Docket No. 06-587-T (tax claim regarding lease-in/lease out transactions, tried March 2012, decided 2013).
- Wells Fargo & Company and Subsidiaries v. The United States, in the US Court of Federal Claims, Docket No. 06-628-T (tax claim regarding sale-leaseback transactions, tried April 2009, decision January 2010. Appeal December 2010, decision 2011).
- UAL Corporation, et al, Debtors, Chapter 11 Case No. 02B48191 (jointly administered; objection to General Foods’ claim is sustained in part and overruled in part; decision filed June 2006).
- Norwest Corporation and Subsidiaries v. Commissioner of Internal Revenue, T.C. Docket Nos. 20567-93 and 26213-93 (debt-equity swap; asbestos removal expense; and lease portfolio valuation; tried to verdict September 1997).
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