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Appellate Court (Illinois) Affirms Trial Court’s Rejection of One Expert’s Business Value and Adopts the Other Expert’s Value
In this Illinois divorce case, the trial court adopted the value of the husband’s expert as to the value of the husband’s business and rejected the wife’s expert’s value. The trial court determined that the husband’s expert’s value was the only credible value. The wife sought to introduce additional valuation evidence, which the trial court also rejected. The appellate court affirmed the decision of the trial court.
Julie A. Su v. Reliance Trust Co.
In this ESOP-related case, the court ruled that two experts of a former defendant can testify for the remaining defendants to the extent their testimony was not duplicative. The defendant’s motion to exclude testimony of the government’s (plaintiff’s) witness because the new FRE 702 rules were not followed was denied, as the court explained the new FRE 702 had not been violated.
U.S. District Court Allows Nonduplicative Testimony of Experts and Allows Testimony on Clarification of New FRE 702
In this ESOP-related case, the court ruled that two experts of a former defendant can testify for the remaining defendants to the extent their testimony was not duplicative. The defendant’s motion to exclude testimony of the government’s (plaintiff’s) witness because the new FRE 702 rules were not followed was denied, as the court explained the new FRE 702 had not been violated.
Abeome Corp., Inc. v. Stevens
The parties did not agree on a fair value of the shares in a dissenting shareholder suit. The court, using information in evidence, including expert witness testimony from both parties’ experts, determined the fair value.
U.S. District Court Determines Fair Value of Shares
The parties did not agree on a fair value of the shares in a dissenting shareholder suit. The court, using information in evidence, including expert witness testimony from both parties’ experts, determined the fair value.
Dawson v. Dawson
The court of appeals, in an Arizona divorce case, affirmed the decision of the Superior Court to accept the wife’s expert’s value of the husband’s business. The wife’s expert used a three-year look back average of cash flows, while the husband’s expert utilized the most current year’s cash flow.
Court Chooses Three-Year Average Cash Flow Over Single to Determine Value of Husband’s Business—Appellate Court Affirms
The court of appeals, in an Arizona divorce case, affirmed the decision of the Superior Court to accept the wife’s expert’s value of the husband’s business. The wife’s expert used a three-year look back average of cash flows, while the husband’s expert utilized the most current year’s cash flow.
Fowler v. Fowler
In this divorce appeal, the court affirmed the value of the parties’ pharmacy corporation. The husband, appellant, parsed out components of a CVA’s valuation and did not offer an expert or his own opinion as to the value.
Arkansas Appellate Court Affirms Value of Pharmacy—Only One Valuation Opinion Offered
In this divorce appeal, the court affirmed the value of the parties’ pharmacy corporation. The husband, appellant, parsed out components of a CVA’s valuation and did not offer an expert or his own opinion as to the value.
In re Marriage of Remitz
In this divorce case, the Montana Supreme Court reversed the trial court’s use of the date of dissolution, May 2017, as the valuation date, reversed the trial court’s revaluation of the husband’s business, and reverted to the value determined to the trial date in 2014. The wife had no involvement in the business subsequent to the 2014 trial date.
In re Hussain
Both parties appealed this Illinois divorce case. While several issues were appealed, we focus on the value of the business and the determination of debts against the business. Since the trial court was not given any substantial evidence as to the value of the business, it determined the value on its own with limited information. The appellate court affirmed that value. Additionally, the appellate court affirmed the trial court’s disallowance of debts against the business.
Montana Supreme Court Holds Proper Date of Business Value Is the Date of Trial (2014), Not the Date of Dissolution (2017)
In this divorce case, the Montana Supreme Court reversed the trial court’s use of the date of dissolution, May 2017, as the valuation date, reversed the trial court’s revaluation of the husband’s business, and reverted to the value determined to the trial date in 2014. The wife had no involvement in the business subsequent to the 2014 trial date.
Illinois Appellate Court Affirms Value of Business Where the Parties Provided No Evidence
Both parties appealed this Illinois divorce case. While several issues were appealed, we focus on the value of the business and the determination of debts against the business. Since the trial court was not given any substantial evidence as to the value of the value of the business, it determined the value on its own with limited information. The appellate court affirmed that value. Additionally, the appellate court affirmed the trial court’s disallowance of debts against the business.
Midwest Energy Emissions Corp. & Mes Inc. v. Arthur J. Gallagher & Co.
In this patent infringement and validity matter, the defendants have moved for exclusion of the plaintiffs’ technical expert, who was proffered to testify as to infringement and invalidity of five patents-in-suit. The court granted in part and denied in part the defendants’ motion, which included five assertions as to why the testimony should be excluded.
Patent Infringement Suit Motion to Exclude Expert Witness
In this patent infringement and validity matter, the defendants have moved for exclusion of the plaintiffs’ technical expert, who was proffered to testify as to infringement and invalidity of five patents-in-suit. The court granted in part and denied in part the defendants’ motion, which included five assertions as to why the testimony should be excluded.
Lymburner v. Axhelm
In a divorce case in Alaska, the Supreme Court determined that the wife’s expert’s valuation was superior to the husband’s expert’s valuation. Thus, the value of the business was not at issue on a remand. What was at issue was whether some or all of the businesses were separate property rather than marital property as the lower court ruled.
Alaska Supreme Court Remands for Determination of Marital Property But Affirms Lower Court’s Acceptance of Wife’s Business Value
In a divorce case in Alaska, the Supreme Court determined that the wife’s expert’s valuation was superior to the husband’s expert’s valuation. Thus, the value of the business was not at issue on a remand. What was at issue was whether some or all of the businesses were separate property rather than marital property as the lower court ruled.
Doe v. Trs. of Dartmouth Coll.
The defendant in this action, trustees of Dartmouth College, moved to have the testimony of the plaintiff’s expert as to lost wages and lost earning capacity excluded. The plaintiff had filed an action against the defendant for breach of contract and violation of Title IX by expelling him from Dartmouth’s Geisel School of Medicine. The court granted in part and denied in part the motion to exclude.
U.S. District Court Allows Expert Testimony on Lost Wages and Lost Earning Capacity in a Title IX Private Action
The defendant in this action, trustees of Dartmouth College, moved to have the testimony of the plaintiff’s expert as to lost wages and lost earning capacity excluded. The plaintiff had filed an action against the defendant for breach of contract and violation of Title IX by expelling him from Dartmouth’s Geisel School of Medicine. The court granted in part and denied in part the motion to exclude.
Barnes v. Barnes
The trial for this divorce case was extended almost eight months because the parties had assured the court it would be a three-day trial and it took four days. The fourth day was almost eight months after the end of the third day of trial. As a result, the husband argued that the value of his business should have been updated and consideration given to the effect of splitting the business’s real estate from the operations of the business. The appellate court noted that this issue had not been raised at trial and was, therefore, not appealable. Other issues not related to the business were issues for the appellate court.
Tennessee Appeals Court Affirms Trial Court Valuation and Trial Court’s Skepticism of Husband’s ‘Projections’
The trial for this divorce case was extended almost eight months because the parties had assured the court it would be a three-day trial and it took four days. The fourth day was almost eight months after the end of the third day of trial. As a result, the husband argued that the value of his business should have been updated and consideration given to the effect of splitting the business’s real estate from the operations of the business. The appellate court noted that this issue had not been raised at trial and was, therefore, not appealable. Other issues not related to the business were issues for the appellate court.
Taylor Precision Prods. v. Larimer Grp., Inc.
In the damages portion of this complex suit, the court determined damages based on the plaintiff’s expert’s determination and report of same. It awarded damages on the first component of his damages calculation, the damages based on an adjusted “lost” EBITDA, but not on the second component, which the court deemed to be speculative.
Plaintiff Awarded Direct Damages But Not Speculative ‘Growth Damages’
In the damages portion of this complex suit, the court determined damages based on the plaintiff’s expert’s determination and report of same. It awarded damages on the first component of his damages calculation, the damages based on an adjusted “lost” EBITDA, but not on the second component, which the court deemed to be speculative.
Clampitt v. Clampitt
The husband appealed the family court’s valuation of the family business. In a brief opinion, the court of appeals (South Carolina) affirmed the family court’s value because the change in value during the litigation was attributable to the husband, the family court accounted for personal goodwill, and the valuation was within the range of evidence presented.
B.M. v. R.C.
The husband did not engage a valuation of his business, but the wife did. Her valuation expert arrived at a range of values, explaining that he lacked some information and that the information he did have regarding the financial status of the business did not reconcile. As a result, he set a range of values and determined that a range was the most appropriate way to determine the value. The trial court took an average of the range to determine the value for purposes of the marital estate. The supreme court affirmed the lower court decision to average the values.