What we say about the firm's legal practice in US
Finance
Within Corporate restructuring, tier 7
Caplin & Drysdale’s inclusion in the bankruptcy section is warranted for one reason, which is explained succinctly by a client, ‘
Elihu Inselbuch ’s department has a virtual monopoly on the representation of asbestos committees in all large Chapter 11 cases. It knows the field better than anyone else and has the good business instincts to make deals’. Recommended lawyers in the practice group include Peter Lockwood, who is ‘one of the smartest attorneys I have ever met’, and Nathan Finch, who ‘has the ability to tackle extremely complex matters involving science and statistics, and works well with expert witnesses to efficiently build his case’. Ann McMillan and Trevor Swett are also highly regarded.
Tax
Within International tax, Caplin & Drysdale is a third tier firm,
Caplin & Drysdale has been established in Washington DC for over 40 years and self-defines as a “tax boutique” although with the fee-earner complement of 70, it equates, or exceeds in size, to the tax departments of many firms. The international tax offering, provided by 16 lawyers of whom nine are partners, covers all cross-border tax issues from controversy to high-value transactions, and includes transfer pricing negotiations with the IRS and US Department of Justice. In a prestigious recent assignment, David Rosenbloom, who ‘built a pretty amazing practice’, represented the government of Liechtenstein in Tax Information Exchange negotiations. In commercial cases, John Breen is involved in the negotiation of a complex bilateral Advance Pricing Agreement with the tax authorities of both countries, and Seth Green successfully concluded a major dispute over interest deductibility, involving valuation issues, following the IRS administrative appeal process.
Within Tax controversy, Caplin & Drysdale is a third tier firm,
Caplin & Drysdale’s substantial tax controversy offering is centered on ten partners practising fully in the field, and four partners with a part-time interest in the practice. With just eight other fee-earners, the group is lightly leveraged, and clients comment on the partner-level commitment offered by the Washington DC tax boutique. A high proportion of former IRS lawyers ensures effective negotiation whatever the controversy. The practice ranks very highly in the shortlist of firms capable of handling voluntary disclosures and criminal tax fraud. Keynote of 2009 was the rapid growth in cases handled under the IRS Voluntary Disclosure Process – the group is currently handling several hundred cases for corporations, families and individuals, most involving undeclared foreign assets. Representative instructions involve multimillion-dollar foreign non-grantor trusts and a difficult case involving grand jury investigation of third generation family members following a disclosure of Holocaust funds “deemed to be untimely” by the IRS. Senior practitioners in a strong team, Scott Michel has recently acquired useful expertise in Swiss banking and finance to add to his impressive knowledge of sensitive civil tax examination and disclosure, and Cono Namorato has long experience in criminal tax defense and professional ethics. Patricia Lewis is ‘very knowledgeable, well spoken, and very conscientious’. Also highly thought of, James Mastracchio, although rather younger, is proving his mettle in the criminal tax/disclosure territory. Richard Skillman, with a niche expertise in insurance, is recommended for non-criminal tax controversy and litigation.
What we say worldwide
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US
Offices in Washington DC