American Classic Voyages Co. v. JP Morgan Chase Bank (In re American Classic Voyages Co.) (I)
Insolvency valuation relies on credibility of pre-9/11 projections and also credibility of experts.
VFB LLC v. Campbell Soup Co. (II)
3rd Circuit upholds District Court finding that objective evidence from public equity market is superior to expert valuations.
BV Appraiser Challenged Under Daubert for Bias and Reliance on Third-Party Reports
BV expert challenged under Daubert for reliance on third-party appraisals.
Doctors Hospital of Hyde Park, Inc. v. Desnick et al.
This adversary case relates to the Chapter 11 bankruptcy case filed by Chapter 11 Trustee for Debtor Doctors Hospital of Hyde Park Inc. (“Doctors Hospital” or “Trustee”). The Adversary Complaint pleaded a total of 28 counts (“Complaint”).
Expert Valuation Report Disqualified Under Daubert for ‘Maverick’ DCF Analysis
Bankruptcy court precludes valuation report (under Daubert) for use of “maverick” DCF analysis.
In re Nellson Nutraceutical (II)
Management deliberately manipulates projections, without experts’ knowledge; court determines enterprise value nonetheless, adjusting and weighting reports.
In re Greater Southeast Community Hospital Corp. (I)
BV expert challenged under Daubert for reliance on third-party appraisals.
‘BV on Trial’ in Bankruptcy: Exclusive Insights From the In Re Med Diversified Expert
In 1889, to ease overcrowding at the New York City Asylum for the Insane on Ward’s Island, 40 men were sent to Central Islip, Long Island, where they built what was then called The Branch Lunatic, a facility for the criminally insane.
In re Nellson Nutraceutical (I)
Bankruptcy court precludes valuation report (under Daubert) for use of “maverick” DCF analysis.
Discovered Emails Plus a Contingent Fee Discredit Appraiser’s DCF Analysis
In reorganization confirmation, Bankruptcy Court rejects DCF analysis for cost of debt based on comparable companies rather than actual exit facility.
BV on Trial in Bankruptcy? New York Court Excludes Appraisal as ‘Junk Science’
Bankruptcy court excludes expert business valuation report for “pervasive bias,” but also reveals possible bias against BV profession as a whole.
New York Bankruptcy Court Confirms Valuation of Customer Lists, With High Praise for Valuator
Court confirms comprehensive, credible valuation of customer relationships in bankruptcy case.
In re Oneida Ltd.
In reorganization confirmation, Bankruptcy Court rejects DCF analysis for cost of debt based on comparable companies rather than actual exit facility.
Reasonably Equivalent Value Tested on Date of Transfer
The U.S. Court of Appeals for the 6th Circuit found that a debtor’s payment followed by a corresponding dollar-for-dollar reduction in a debt owed by a company he controlled could not be recovered as a fraudulent transfer under Bankruptcy Code sec. 548.
Charles J. Lisle, Trustee v. John Wiley & Sons, Inc.
The U.S. Court of Appeals for the Sixth Circuit found that a debtor’s payment followed by a corresponding dollar-for-dollar reduction in a debt owed by a company he controlled could not be recovered as a fraudulent transfer.
In re Med Diversified, Inc. (II)
Bankruptcy court excludes expert business valuation report for “pervasive bias,” but also reveals possible bias against BV profession as a whole.
In re Louis Frey Company, Inc.
Court confirms comprehensive, credible valuation of customer relationships in bankruptcy case.
Analyst Convinces Court to Reject Stock Value as 'Fair'
Analyst argues that Bankruptcy Court should disregard publicly traded stock value to assess whether telecom company was insolvent 18 months before bankruptcy filing.
Report Is Inadmissible Where Purported Valuator Is Not Certified, Uses Incorrect Methodology, and Does No Independent Analysis
In a case of first impression in a bankruptcy adversary proceeding, the narrow issue was whether Scott P. Peltz, the proposed business valuation expert witness for Addus Healthcare Inc. (Addus), was qualified and whether his purported expertise satisfied the standards of relevance and reliability under Daubert.
Valuation Date for Rejection Damages in Bankruptcy
American HomePatient Inc. (AHP) entered into a credit agreement with certain of its secured lenders that included a warrant agreement that called for AHP to issue two series of warrants, which, when exercised, would permit the warrant holders to purchase 3,265,315 shares (or 19.99%) of AHP common stock at an exercise price of $0.01 per share.
If Bankruptcy Is Not 'Clearly Imminent,' Corporation Must Be Valued on a Going-Concern Basis
In June 1999, Hechinger Co. and its affiliates (Hechinger) filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code.
In re Winstar Communication, Inc.
Analyst argues that Bankruptcy Court should disregard publicly-traded stock value to assess whether telecom company was insolvent eighteen months before bankruptcy filing.
In re Med Diversified, Inc. (I)
In a case of first impression in a bankruptcy adversary proceeding, the narrow issue was whether Scott P. Peltz, the proposed business valuation expert witness for Addus Healthcare Inc. (Addus), was qualified.
Contested Valuation of One Asset Is Moot Where All Transferred Assets Provide Reasonably Equivalent Value
One of the issues in this Chapter 11 bankruptcy case was whether James Jumer, as principal stockholder of the debtor corporation, Jumer’s Castle Lodge (JCL), had caused JCL to fraudulently transfer assets.
In re Hechinger Investment Company of Delaware
In June 1999, Hechinger Co. and its affiliates (Hechinger) filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code.