Press

Mark Goodman Discusses Validus Decision with Business Insurance Magazine

The decision by a federal court to reject the IRS's "cascading" excise tax theory on reinsurance transactions between two non-U.S. companies may lead to some reinsurers requesting refunds or altering their closing agreements, according to Freeborn & Peters attorney Mark Goodman. Mark, who is a Partner in the Firm's Corporate Practice Group and a member of the Insurance/Reinsurance Industry Team, was recently interviewed by Business Insurance, a leading publisher of information for the insurance and reinsurance industry, for an article titled "Reinsurance industry applauds court's rejection of cascading excise tax," which published on February 16, 2014. In Validus, the court provided clarity to a contentious use of the excise tax as it is applied to certain reinsurers.

Read the full article, Reinsurance industry applauds court's rejection of cascading excise tax (free registration required).