Wednesday, January 7, 2009
Dennis Ventry (UC-Davis) comments on the settlement announced by Regions Bank in Regions Fin. Corp. v. United States, 2008 U.S. Dist. LEXIS 41940, No. 2:06-CV-00895-RDP (N.D. Ala. May 8, 2008) (here):
The 11th Circuit has dismissed the government’s appeal (No. 08-13866-C). According to the Stipulation filed with the Court, Regions provided the Government in mid-December 2008 all of the documents that it sought, and that production mooted the appeal. The Court subsequently dismissed on Dec. 30, 2008. Oral arguments were set, I think, for January 5 (or at least some time in early January).
Recall that Regions was one of two cases on appeal where the district court held that tax accrual workpapers were protected under the work product doctrine. The other case, Textron, was argued on Sept. 5, 2008. We are still awaiting the court’s decision on Textron. Some of us are more anxious than others: at oral argument in Textron, as well as in the Regions appeal briefs, the Government relied at several points on my article, Protecting Abusive Tax Avoidance, 120 Tax Notes 857 (Sept. 1, 2008).