National Westminster Bank (NatWest) v. U.S. Dept. of Justice Taxation Division

Analysis Group was retained to assist our academic affiliate, an accounting expert, in reconstructing and analyzing historical financial statements for the U.S. branches of National Westminster Bank (now Bank of Scotland). The purpose of our analysis was to establish the amount of actual reported equity and debt capital for NatWest’s consolidated U.S. operations in order to impute the appropriate interest expense for U.S. tax purposes. Our team, led by Managing Principals Richard Starfield and R. Jeffrey Malinak, prepared balance sheets and income statements for NatWest’s U.S. branches, which we then used to prepare consolidated financial statements for NatWest’s entire U.S. operation. We were also required to analyze and reconcile a large number of complex intercompany transactions among the branches.

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