Bankers Trust New York Corp. v. United States

ORDER

MOODY R. TIDWELL, III, Judge:

This case is before the court on the parties’ cross motions for partial summary judgment pursuant to RCFC 56. At issue is whether plaintiff, Bankers Trust, is entitled to foreign tax credits under § 901 of the Internal Revenue Code, for taxes paid to the government *32of Brazal, where the Brazilian government paid a subsidy to Brazilian borrowers for a portion of the taxes paid. The court heard oral argument on March 14, 1996. For the reasons set forth below, the court holds that plaintiff is not entitled to the foreign tax credits; accordingly, the court grants…