National Westminster Bank, PLC v. United States

OPINION ON PARTIAL SUMMARY JUDGMENT

FIRESTONE, Judge.

Pending before the court are the parties’ cross-motions for partial summary judgment in connection with this tax refund case. Previously, in National Westminster Bank, PLC v. United States, 44 Fed.Cl. 120 (1999) (“Nat-West J”), the court ruled that Treasury Regulation 1.882-5 (“Treasury Regulation” or “Regulation”), was inconsistent with Article 7 of the Convention for the Avoidance of Double Taxation, Dec. 31, 1975, U.S.-U.K., 31 U.S.T. 5668 (“U.S.-U.K. Treaty” or “Treaty”) and, thus, could not be used for calculating interest deductions by…