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The plaintiffs contended the trial court erred in granting two of the defendants motions in limine to exclude evidence of the plaintiff’s damages. The appellate court affirmed

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Tennessee Appeals Court Defers to Trial Court on DLOM Use in Divorce

In context of determining appreciation in value, appeals court says trial court did not err when it applied DLOM in valuing partial interests in businesses representing wife’s separate property; DLOM use is within trial court’s discretion and depends on facts of the case.

Fuller v. Fuller

Appeals court says trail income generated by solo financial planning practice is different from professional goodwill; it can be sold separately or assigned, and there exists a formula for valuing it; trial court was right to consider it a marital asset.

Cela v. Cela

The Appellate Court (AC) upheld the trial court’s decision to accept the value under the income approach adjusted for the exclusion of personal goodwill. The expert for the wife (business owner) had used the asset approach reasoning that all goodwill was personal. The trial court and the AC rejected that approach.

Grant v. Grant

Appeals court says use of DLOM in valuing interest for divorce depends on interest’s characteristics not owner’s intent to sell the interest, but appeals court affirms trial court’s decision to apply “slight” or no DLOM based on intent to sell analysis.

Lucchesi v. Lucchesi

Appeals court upholds ruling that appreciation in value of husband’s interest in family liquor business is marital asset; trial court carefully analyzed husband’s role in company to find he “substantially contributed” to the increase and husband stipulated to wife’s substantial contribution.

Raley v. Brinkman

In LLC member buyout dispute, the Court of Appeals finds the term “fair value” does not contemplate the use of shareholder-level discounts. However, tax affecting is relevant evidence when determining the going-concern value of subject S corp. Trial court must consider evidence on tax affecting.

Jensen v. Jensen

In deciding whether, in divorce, retained earnings in a closely held company that is separate property are includible in marital estate, appeals court creates presumption against inclusion and requires trial court to perform totality of circumstances review.

Appeals Court Signs Off on ‘Slight’ DLOM in Minority Interest Valuation

Appeals court says use of DLOM in valuing interest for divorce depends on interest’s characteristics not owner’s intent to sell the interest, but appeals court affirms trial court’s decision to apply “slight” or no DLOM based on intent to sell analysis.

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