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News Breaks | | | | February 11, 2013 | | 19:29 EDT |  | BK | BNY Mellon will appeal U.S. Tax Court ruling
BNY Mellon issued the following statement in response to a ruling published by the U.S. Tax Court regarding the IRS's disallowance of certain foreign tax credits claimed for the 2001 and 2002 tax years: "We will appeal the court's decision. We continue to believe the tax treatment of the transaction was consistent with statutory and judicial authority existing at the time. As a result of the ruling, BNY Mellon expects to take an after-tax charge of approximately $850M during the first quarter of 2013. After taking the charge, the company expects it will continue to be well capitalized and its Basel III Tier 1 common equity ratio will be impacted by approximately 55 basis points. At December 31, 2012, our Basel III Tier 1 common equity ratio was 9.8%." | |
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News For BK From The Last 14 Days Check below for free stories on BK the last two weeks. |
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| May 22, 2013 | | 06:01 EDT | | BK | BNY Mellon plans to increase Wealth Management sales force by 50%
 Subscribe for More Information | | | May 15, 2013 | | 16:55 EDT | | BK | Berkshire Hathaway gives quarterly update on stakes
Subscribe for More Information | | | May 13, 2013 | | 06:12 EDT |  | BK | BNY Mellon appeals ruling on Chesapeake’s early $1.3B bond call, Bloomberg says
Bank of New York Mellon (BK) is appealing a ruling allowing Chesapeake Energy (CHK) to proceed today with redeeming $1.3B in bonds six years early at 100 cents on the dollar, reports Bloomberg. A notice of the appeal was filed May 11 in federal court in Manhattan.Reference Link | |
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