Winston & Strawn LLP

About this office:

Winston & Strawn LLP, founded in 1853, is one of the nation's oldest and largest law firms. With nearly 1,000 attorneys in offices in Charlotte, Chicago, Newark, New York, Washington, DC, Los Angeles, Moscow, Russian Federation, San Francisco, Geneva, Switzerland, Paris, France, and London, England, the firm provides a full range of legal services to clients throughout the United States and abroad, including Fortune 500 companies, major commercial and financial institutions, governments and governmental entities, as well as small and midsize companies, individuals and entrepreneurs from virtually every industry.

Alternative Dispute Resolution, Antitrust, Asset Securitization, Banking, Bankruptcy, Workouts and Financial Restructurings, Commercial Lending, Contracts, Corporate, Corporate Finance, E-Commerce, Employee Benefits and Executive Compensation, Energy, Environmental Law, Healthcare, Immigration, Intellectual Property, International, Labor and Employment Relations, Lease Finance, Litigation, Maritime, Mergers and Acquisitions, Product Liability, Project Finance, Public Finance, Real Estate, Securities, State and Federal Governmental Relations and Regulatory Affairs, Tax, Technology, Transportation, Trusts and Estates and White Collar Criminal Defense.

Adding Insult to Injury - How the Tax Code Complicates Amending Financing Transactions
David L. Batty, William L. Harvey, Marvin J. Miller, Gregory S. Murray, March 11, 2009
Few people would be surprised to discover that if a creditor forgives a debt or allows a debtor to retire a debt for an amount that is less than the amount originally borrowed by the debtor, the Internal Revenue Service will tax the amount of the forgiveness or discount as ordinary income.

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