Freight Trucking, Long Distance
This U.S. industry comprises establishments primarily engaged in providing long-distance general freight truckload (TL) trucking. These long-distance general freight truckload carrier establishments provide full truck movement of freight from origin to destination. The shipment of freight on a truck is characterized as a full single load not combined with other shipments.
Ohio Appellate Court Affirms Trial Court’s Denial of Permanent Injunction and Dismisses a Claim of Tortious Interference
An Ohio appellate court affirmed the trial court’s denial of a permanent injunction to the plaintiff because the evidence did not show that it faced immediate and irreparable injury or harm. It was also held that the trial court properly dismissed the plaintiff’s claim for tortious interference because the plaintiff did not allege that the defendant induced a third party not to continue to do business with the plaintiff.
Total Quality Logistics, LLC v. Tucker, Albin and Assocs.
An Ohio appellate court affirmed the trial court’s denial of a permanent injunction to the plaintiff because the evidence did not show that it faced immediate and irreparable injury or harm. It was also held that the trial court properly dismissed the plaintiff’s claim for tortious interference because the plaintiff did not allege that the defendant induced a third party not to continue to do business with the plaintiff.
Koch v. Koch
This shareholder dispute case involved two businesses three brothers in Minnesota owned. One of the brothers, Jim Koch, had a falling out with the other two, Randy and Dave Koch. A temporary agreement was made among them in 2006, but subsequently the relationship and actions of the parties deteriorated. In particular, an IRS audit of the two businesses triggered a disagreement as to whether required payments under the agreement had to be tax deductible. Certain actions by the defendants breached the 2006 agreement as determined by a jury resulting in a damages award of $12 million. The court then held a bench trial to determine the value of the two businesses for determining the buyout amount for Jim’s interest in both businesses. Experts for each side testified as to value. The opinion provided a good analysis of the various issues in the methodologies each of the experts used.
Minority Shareholder Receives Award of $12 Million for Breach of Contract, $58 Million Buyout Award for Minority Interest
This shareholder dispute case involved two businesses three brothers in Minnesota owned. One of the brothers, Jim Koch, had a falling out with the other two, Randy and Dave Koch. A temporary agreement was made among them in 2006, but subsequently the relationship and actions of the parties deteriorated. In particular, an IRS audit of the two businesses triggered a disagreement as to whether required payments under the agreement had to be tax deductible. Certain actions by the defendants breached the 2006 agreement as determined by a jury resulting in a damages award of $12 million. The court then held a bench trial to determine the value of the two businesses for determining the buyout amount for Jim’s interest in both businesses. Experts for each side testified as to value. The opinion provided a good analysis of the various issues in the methodologies each of the experts used.
Court Distinguishes Between Proving Fact of Damage and Amount
Court upholds lost profits award, noting at trial plaintiff established “the fact of damages” with the requisite certainty; defendant deprived plaintiff of learning about job applicants, some of whom plaintiff would have hired to perform additional work.
Court Distinguishes Between Proving Fact of Damage and Amount
Court upholds lost profits award, noting at trial plaintiff established “the fact of damages” with the requisite certainty; defendant deprived plaintiff of learning about job applicants, some of whom plaintiff would have hired to perform additional work.
Marten Transp., Ltd. v. Plattform Adver., Inc.
Court upholds lost profits award, noting at trial plaintiff established “the fact of damages” with the requisite certainty; defendant deprived plaintiff of learning about job applicants, some of whom plaintiff would have hired to perform additional work.
Affirmation of DLOM Rulings Augurs End to Shareholder Fight
In dissenting shareholder suit, appeals court upholds trial court’s finding that prevailing DCF analysis did not account for illiquidity by way of a separate marketability discount, as well as court’s finding that appropriate DLOM rate was 25%.
Wisniewski v. Walsh (Wisniewski II)
In dissenting shareholder suit, appeals court upholds trial court’s finding that prevailing DCF analysis did not account for illiquidity by way of a separate marketability discount, as well as court’s finding that appropriate DLOM rate was 25%.
Devoid of Goodwill, Corporation Escapes Income Tax Liability
Tax Court says taxpayer’s company owned no corporate goodwill and had no right to taxpayer’s personal goodwill and, therefore, was not liable under IRC Sect. 311(b)(1); the taxpayer, in turn, was not liable for gifting corporate goodwill to his sons.
Bross Trucking, Inc. v. Commissioner
Tax Court says taxpayer’s company owned no corporate goodwill and had no right to taxpayer’s personal goodwill and, therefore, was not liable under IRC Sect. 311(b)(1); the taxpayer, in turn, was not liable for gifting corporate goodwill to his sons.
Minority Shareholder’s Conduct Warrants Marketability Discount
In forced buyout, the appellate court affirms the trial court’s decision to adopt, with reservations, the discounted-cash-flow (DCF) valuation the seller’s expert proposed, but finds the oppressive conduct of the minority shareholder, the seller, justifie ...
Wisniewski v. Walsh
In forced buyout, the appellate court affirms the trial court’s decision to adopt, with reservations, the discounted-cash-flow (DCF) valuation the seller’s expert proposed, but finds the oppressive conduct of the minority shareholder, the seller, justifie ...
In re Marriage of Meek-Duncomb
Divorce court declines to credit “uncertified” business appraisal by CPA who reviewed only tax returns and Excel spreadsheets, without considering business’s assets and debts, sources of revenues and customer relationships.
Tax affecting denied when sale not likely
In this marital dissolution case, the issue on appeal was whether it was proper for the trial court to tax-affect husband’s trucking business even though a sale was not foreseeable.
Elrod v. Elrod
In this marital dissolution case the issue on appeal was whether it was proper for the trial court to tax affect husband’s trucking business ...
In re Gregerson
At issue is the bankruptcy estate's interest in shares of stock in two corporations - Gregerson Farms, Inc. and Gregerson Trucking, Inc.
Single customer relationship results in zero value
Trial court did not err in adopting zero valuation where appraiser considered nature of trucking company and that its revenue was from a single customer.
Glenn Spradlin v. Anna Spradlin
The Kentucky Court of Appeals affirmed the trial court’s acceptance of the fair market value standard to value a trucking business. At trial, the commissioner valued the business using the fair market value standard and awarded the business including its ...
Business Valued Using Fair Market Value Standard
The Kentucky Court of Appeals affirmed the trial court’s acceptance of the fair market value standard to value a trucking business.
Stock appreciation held separate property due to passive growth
The issue in this marital dissolution was whether the trial court erred in determining that 90% of the appreciation in value of husband's separate property interest in his family's trucking ...
Moore v. Moore
Issue is whether trial court erred in relying on expert valuation of zero based on fact that company only had one customer and business depended on husband's relationship with customer.
Congdon v. Congdon
Ninety percent of appreciation in value of husband's interest in family business found to be his separate property.
Winter v. Winter
The issue in this marital dissolution was whether the trial court erred in its valuation of RLW Trucking, Inc . The business was started by the parties as a sole proprietorship and later in ...