National Westminster Bank (NatWest) v. US 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 US 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 US operations in order to impute the appropriate interest expense for US tax purposes. Our team, led by Managing Principals Richard Starfield and R. Jeffrey Malinak, prepared balance sheets and income statements for NatWest's US branches, which we then used to prepare consolidated financial statements for NatWest's entire US operation. We were also required to analyze and reconcile a large number of complex intercompany transactions among the branches.