Admitting Expert Valuation Evidence Before the U.S. Bankruptcy Courts

June 2017 Hardcover

Jack F. Williams, Stan Bernstein, Susan H. Seabury

American Bankruptcy Institute

Understanding valuation is critical, whether it's ascertaining the worth of a complex business enterprise, the avoidance of a pre-petition transfer or a contested confirmation of a chapter 11 reorganization plan. 

Admitting Expert Valuation Evidence Before the U.S. Bankruptcy Courts guides counsel on the fine art of admitting (and properly contextualizing) expert valuation evidence before the bankruptcy courts. The book provides a step-by-step tutorial on how to go "on the offensive" in the highly subjective area of distressed valuation, and gives practitioners the tools they need to evaluate, retain and communicate with valuation professionals.

Categories: bankruptcy

Table of Contents


Chapter 1. Introduction
Chapter 2. Emergence of the Standards Governing Expert Witnesses

  • Deference to the Scientific Community Under Frye
  • Judicial Independence Under Daubert
  • Judicial Empowerment under Kumho Tire
  • Further Supreme Court Decisions

Chapter 3. Procedural Rules Preceding the Daubert Determination

  • Federal Rules of Civil Procedure
  • Federal rule 26
  • Federal Rules of Evidence 104 and 702
  • Objections to Expert Witnesses on Grounds of bias

Chapter 4. Daubert Gatekeeper Determinations

  • Burden Under Daubert
  • Objections for Lack of Qualification
  • Objections for Lack of Reliability
  • Objections for Lack of Relevancy or Fit
  • Summary

Chapter 5. Court-Appointed Experts Under Fed. R. Evid. 706

  • Back-Channel Communications
  • Subverting the Traditional Normative Structure of the Process
  • Additional Costs
  • Technical Advisors

Chapter 6. Procedures for Using Expert Testimony and Reports as Substantive Evidence

  • Expert Affidavits and Written Direct Testimony
  • Introduction of Expert Reports and Testimony During Trial

Chapter 7. Valuation

  • Methodology
  • Income Approach
  • Market Approach
  • Asset-Based Approach
  • Multiple Approaches
  • Application

Chapter 8. Expert Witnesses in Recurring Substantive Disputes in Bankruptcy Litigation

  • Insolvency
  • Reasonably Equivalent Value:  Avoidance of Constructive Fraudulent Transfers
  • Reorganizational Value of the Debtor

Chapter 9. The End is Nigh