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Analyzing a Professional’s Personal Goodwill Under Chapter 7 of the Bankruptcy Code: Just Whose Asset Is It?
This article will explore the issues surrounding the treatment of personal goodwill when the professional is a Chapter 7 debtor. The first section discusses the applicable sections of the Bankruptcy Code with an eye toward section 546(a)(6). Sections ...
Recap of NACVA’s Summer 2022 ‘Super Conference’
Business Valuation Update traveled to Salt Lake City for the Business Valuation and Financial Litigation Super Conference hosted by the National Association of Certified Valuators and Analysts (NACVA). This is a recap of some of the sessions we attended. Several sessions deserved longer treatment, so we’ve devoted separate articles to them (also in this issue).
Florida’s Proposed Change to Goodwill Could Set a Precedent
The Family Law Section of the Florida Bar is proposing legislation to clarify the value of goodwill in the marital interest of closely held businesses. The authors envision that this proposed legislation could set a precedent for future family law matters throughout the United States.
BVU News and Trends October 2020
A monthly roundup of key developments of interest to business valuation experts.
The Discount Rate in Damages: Dunn’s Cases You Need to Know
The Discount Rate in Damages: Dunn’s Cases You Need to Know BV appraisers and litigation experts are especially invaluable to attorneys when it comes to compiling and calculating the financial evidence in an economic damages/business valuation case. Fr ...
Medical Practice Valuations: Three Current Divorce Cases Spotlight Difficult Issues
Three recent decisions highlight the constant challenges of appraising physician and dental practices in divorce, everything from doctors who won’t disclose their finances to those who insist their opinions determine value.
Series of articles examines physician practice losses
Regulatory as well as financial concerns are driving the need to address the issue of health systems losing money on acquired physician practices.
Lost profits damages for doctors takes surgical care
In disputes concerning lost profits for medical practices, experts should assess the key component—physician compensation ...
CPE events
A new structure for valuing private minority interests, ESOP valuation developments, and common traps of valuing physician practices are the topics of upcoming webinars.
Health reform creates big problem with valuations
Thanks to health reform, a massive change is going on that can wreak havoc on attempts to value hospitals, physician practices, and other healthcare providers.
No Goodwill Found in Hospital-Based Medical Practice
The California Court of Appeals for the Second District affirmed the determination that a hospital-based emergency room physician had no compensable goodwill under the multifactor Slivka analysis. It rejected the wife’s application of the excess earnings ...
Critique of Opponent’s Report Boosts Credibility of Expert’s Medical Practice Valuation
Trial court appropriately values three rural medical practices and imaging center at $780,000 based on expert testimony that includes marketability discount and excludes professional goodwill.
Tax Court Examines Charitable Deduction
Tax Court denies charitable deductions for donation of intangible goodwill from taxpayers’ medical practices to newly formed healthcare corporation.
Judge calculates goodwill based on physician compensation survey
On appeal from a 1994 equitable distribution trial, husband (plaintiff) appeals the value of his medical practice as determined by the Trial Judge. Husband is a cardiologist trained in the s ...
Doctor Tries to Avoid Divorce Valuation of Practice in Shareholder Dissolution Suit
Court and expert witnesses debate meaning of “book value” of medical practice in buy-sell provision and whether or not the term is net of liabilities.
Goodwill Hunting: Does a Career as a Motion Picture Director Create Professional Goodwill?
At trial, a popular movie director is found to possess professional goodwill—and the California appellate court is forced to go “goodwill hunting.”
Three New Cases Examine Valuation of Goodwill In Medical Practices
Goodwill valuation continues to cause legal headaches, as three more cases this month (in addition to the Stewart decision ) dissect the issue, all in the context of medical practices. The first considers applying the rule regarding valuing goodwill in m ...
Three New Cases Examine Valuation of Goodwill in Medical Practices
Goodwill valuation continues to cause legal headaches, as three more cases this month (in addition to the Stewart decision ) dissect the issue, all in the context of medical practices.
Weight Given to Previous Compensation Levels When Determining Reasonable Compensation
The U.S. Court of Appeals for the 6th Circuit reversed the U.S. Tax Court and permitted Alpha Medical to deduct the full $4.4 million salary it paid its founder and CEO under IRC sec. 162.
Court Validates Zero Goodwill for Naturopathic Practice
State high court affirms trial court’s determination that husband’s naturopathic practice had zero goodwill value based solely on husband’s testimony that a similar practice in the area failed to attract a buyer despite being on the market for a year.
Court-Appointed Expert’s Opinion of Value Affirmed
The Washington Court of Appeals affirmed the valuation of a chiropractor's practice and another business interest.
Expert’s Valuation Method Precludes Improper Inclusion of Goodwill
In using the capitalization of earnings method to value husband’s medical practice, the wife’s expert did not improperly include personal goodwill, the appellate court finds; the valuation rested on actual earnings with some adjustment for reasonable comp ...
Analyzing Healthcare AR: Reviewing Underlying Patient Data Is Critical, Court Says
Texas Court reverses $750,000 jury award for value of patient account receivables for lack of reliable expert evidence, including faulty assumptions and failure to review underlying patient and payer data.
Court Snubs Lost Earnings Analysis Based on ‘Incomplete Use’ of Data
Court rejects expert’s loss of business opportunity and lost earnings calculations, finding capitalization of earnings method is inappropriate for valuing company with unstable earnings and lost salary projections are based on “incomplete use” of data.
Derby v. Commissioner
Tax Court denies charitable deductions for donation of intangible goodwill from taxpayers’ medical practices to newly formed healthcare corporation.