From Value Walk, an article outlining Nigel Green’s enthusiastic support for superlawyer Jim Bopp’s upcoming lawsuit. Disqus comments are ready for feedback.
The founder and CEO of one of the world’s largest independent financial advisory organizations is hailing the involvement of one of America’s most prominent superlawyers in the campaign to repeal the highly controversial Foreign Account Tax Compliance Act (FATCA) as “the tipping point.”
The comments from Nigel Green of deVere Group, which has 80,000 clients and $10bn under advice, are in response to attorney Jim Bopp Jr’s decision to mount a legal challenge to the new law – due for implementation on July 1.
A legal challenge to FATCA
The high profile, no-nonsense lawyer is preparing a legal challenge to FATCA, which its opponents insist has a host of serious unintended adverse consequences.
Mr Green says: “The decision taken by Mr Bopp, who has previously successfully challenged other questionable finance laws in the Supreme Court, to take on the fatally-flawed FATCA could, I suspect, be the tipping point in the campaign to ultimately have it repealed.
“He is on a legal mission to definitively prove that FATCA, which has far-reaching negative consequences for the 7.6 million U.S. citizens abroad, the 13 million green-card holders and American businesses that operate globally, is unconstitutional on at least three counts.
“I believe that common sense and justice is on his side on this issue of national and international importance. I am confident that his legal opinion will prove to be sound and robust.”