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Experience:
David Abbott is a highly respected transactional lawyer and tax litigator. He advises clients across a broad range of critical issues, with a particular focus on four key areas of corporate concern involving litigation and transactional issues.
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, including valuation of fixed and intangible assets and inventory, 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" (sale-in/lease-out arrangements). 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.
On the transactional side, David represents equity investors, lenders and lessees in equipment and real estate leasing transactions such as sale-leasebacks, leveraged and single-investor leasing, cross-border lease arrangements, QTE and lease-to-service contracts, acquisition and divestiture of leasing portfolios and leasing subsidiaries and related tax-oriented financing structures and debt instruments. His transactional tax counsel also encompasses acquisitions and divestitures, financial products, consolidated return regulations, general corporate taxation and partnership taxation.
Notable Engagements:
Consolidated Edison Company of New York, Inc. & Subsidiaries v. The United States, in the US Court of Federal Claims, Docket No. 06-305-T (tax claim regarding lease-in/lease-out transaction, currently docketed; scheduled for trial October 2007).
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, currently docketed; not yet tried).
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; pending appeal).
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 September 1995; decision pending).
Nestlé Holdings, Inc. v. Commissioner of Internal Revenue, T.C. Memo 1995-441 (September 14, 1995; I.R.C. § 482 reallocations, Carnation acquisition).
Education:
University at Buffalo Law School, The State University of New York, JD, magna cum laude, 1980; Note and Comment Editor, Buffalo Law Review o University of Illinois, BA, 1975. | 