We achieved a favorable settlement with the IRS

In January 2023, Davis Polk achieved a favorable settlement with the IRS for a global pharmaceutical and medical device company in a dispute over the application of tax-free reorganization rules to a so-called Granite Trust transaction. The IRS had asserted a $2 billion tax claim related to the transaction.

The Davis Polk tax controversy team includes partner Mario J. Verdolini, counsel Christopher A. Baratta and associate Justin Corvino. All members of the Davis Polk team are based in the New York office. 

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