Have we seen it all before? This presentation examines the tax issues emerging for financial institutions and their clients from the credit crunch, falling asset values, distressed debt and mergers - what have we seen before and what is new this time around? Issues covered in this presentation include:
- compromise of debts
- debt forgiveness rules and application to purchased debt
- debt/equity swaps
- loss duplication
- unwinding of complex derivatives and securities lending transactions
- implications in terms of debt/equity characterisation.