In re Premier Entertainment Biloxi LLC
Bankruptcy court rejects “equitable solvency test” for gaming resort debtors, finding that adjusted balance sheet test, as supported by expert evidence, was the preferred test.
Competing Valuations of Trump Casinos Determine Fate, Feasibility of Restructuring
Bankruptcy court considers key valuation evidence—including total enterprise value, cost of debt, debt service capacity, and capex/EBITDA proections—in confirmation of reorganization plan for Trump casinos.
Paloian v. LaSalle Bank
7th Circuit finds that tax affecting and discounts are inappropriate in an insolvency analysis and that a trustee for securitized assets is an “initial transferee” for purposes of the Bankruptcy Codes' provisions on preferential transfers.
In re Yellowstone Mountain Club, LLC
Bankruptcy court avoids $209 million loan distribution to a resort owner, finding he (and counsel) manipulated the valuation experts, inflated projections, and used flawed appraisals for the underlying assets.
In re Global Technovations, Inc. (I)
Bankruptcy court voids $25 million acquisition based on valuations that used historic, 12 months' earnings prior to closing and rejecting expert who relied substantially on inflated, unreasonable management projections.
‘Levered’ DCF for Bankrupt Business Fits the Facts but Falls to Daubert Standard
Bankruptcy court rejects expert’s “levered DCF” approach under Daubert, finding it untested, unreliable, and unused in any other court or commonly accepted valuation.
‘Devastating’ Cross-Examination in Shareholder Buyout Case Leads to Discredited Expert
Court discredits expert valuation in shareholder buyout case based on flawed income approach and inconsistent testimony.
Court Adjusts Discount Rate to Reflect Current Economic Risks
Bankruptcy case discusses downward adjustment to discount rate used in calculation of lost profits damages to account for current market disruptions and risk.
In re Young Broadcasting, Inc.
Bankruptcy court rejects expert’s “levered DCF” approach under Daubert, finding it untested, unreliable, and unused in any other court or commonly accepted valuation.
In the Matter of TCI 2 Holdings, LLC
Bankruptcy court considers key valuation evidence—including total enterprise value, cost of debt, debt service capacity, and capex/EBITDA proections—in confirmation of reorganization plan for Trump casinos.
In re Spansion
Bankruptcy court finds billion-dollar total enterprise valuation of flash memory manufacturer supports finding that proposed reorganization plan is fair, but declines confirmation pending amendments to equity incentives for management.