Pension schemes seek dismissal against Danish tax agency

By David Hansen (May 13, 2022, 8:28 p.m. EDT) — A federal court in New York is expected to dismiss the Danish government’s lawsuit against several U.S. pension plans accused of participating in a $2.1 billion fraud because that the transactions at issue were legal, the groups told the court.

The motion and plans memorandum filed on Thursday challenged accusations by Denmark’s tax agency, known as Skat, that the plans had participated in an epic fraud known as cum-ex against Denmark and other European countries from 2012 to 2015. The petition, filed in the U.S. District Court for the Southern District of New York further held that Skat’s action was barred by the statute of limitations in the case….

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Esther L. Steinbach