Valuing Contingent Liability in Bankruptcy Precludes GAAP Standard

Business Valuation UpdateVol. 18 No. 10
Legal and Court Case Update
October 2012

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bankruptcy
Bakst v. United States of America (In re: Kane & Kane)
2012 Bankr. LEXIS 3223
July 16, 2012
US
Federal Court
Federal
United States Bankruptcy Court
Robert Zucker (plaintiff/trustee); James Reda and William Michaelson (defendant/government)
Kimball

Summary

In fraudulent conveyance suit, bankruptcy court admits expert’s testimony on reasonable compensation as it relates to reasonably equivalent value for the debtor law firm’s payment of its partners’ income taxes, but strikes insolvency expert’s opinion for ...

See Also

Bakst v. United States of America (In re: Kane & Kane)

Full Text of Court Cases
July 16, 2012

In fraudulent conveyance suit, bankruptcy court admits expert’s testimony on reasonable compensation as it relates to reasonably equivalent value for the debtor law firm’s payment of its partners’ income taxes, but strikes insolvency expert’s opinion for ...