US to appeal $234m tax award to Santander

The US government is to appeal a $234m tax award for Santander's US unit over a dispute involving a "Structured Trust Advantaged Repackaged Securities" (STARS) transaction by Sovereign Bancorp. Santander had surprisingly won the case towards the end of last year, after others, such as BNY Mellon, lost against the government over the transaction.

By Evan Weinberger (March 14, 2016, 4:06 PM EDT) -- The U.S. government on Friday said that it will appeal a $234 million tax award issued to Santander Group's U.S. unit in a dispute in an international securities transaction, less than a week after the U.S. Supreme Court declined to hear a challenge to government determinations in similar cases....

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