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Rose’s 1, LLC v. Erie Ins. Exch.

D.C. court, ruling on parties’ motions for summary judgment, finds restaurant owners cannot show that mayor’s COVID-19-related closure orders constituted “direct physical loss” to the property, as required under the existing business interruption policy; court rules for insurer and closes case.

Court Says Restaurants Fail to Meet Requirements for COVID-19-Related Business Interruption Coverage

D.C. court, ruling on parties’ motions for summary judgment, finds restaurant owners cannot show that mayor’s COVID-19-related closure orders constituted “direct physical loss” to the property, as required under the existing business interruption policy; court rules for insurer and closes case.

Raley v. Brinkman

In LLC member buyout dispute, the Court of Appeals finds the term “fair value” does not contemplate the use of shareholder-level discounts. However, tax affecting is relevant evidence when determining the going-concern value of subject S corp. Trial court must consider evidence on tax affecting.

Tennessee Appeals Court Clarifies Use of Discounts and Tax Affecting in Court-Ordered LLC Buyout

In LLC member buyout dispute, the Court of Appeals finds the term “fair value” does not contemplate the use of shareholder-level discounts. However, tax affecting is relevant evidence when determining the going-concern value of subject S corp. Trial court must consider evidence on tax affecting.

Bayou Place Limited Partnership v. Alleppo’s Grill, Inc.

In rent payment dispute, court rejects defendant restaurant’s force majeure claim that devastating hurricane was act of God that interfered with restaurant’s use of property and excused performance where lease did not contain force majeure provision and rent payments stopped before storm.

Defendants’ Force Majeure Defense Related to Hurricane Devastation Does Not Excuse Breach of Contract

In rent payment dispute, court rejects defendant restaurant’s force majeure claim that devastating hurricane was act of God that interfered with restaurant’s use of property and excused performance where lease did not contain force majeure provision and rent payments stopped before storm.

In re Panera Bread Company

In appraisal action involving sale of public company, court says sale process had “objective indicia of reliability,” justifying use of deal price for fair value determination; synergy deduction is appropriate to account for value from anticipated cost and tax-related savings due to merger.

Court Considers Deal Price Persuasive Indicator of Fair Value and Approves Synergy Deduction

In appraisal action involving sale of public company, court says sale process had “objective indicia of reliability,” justifying use of deal price for fair value determination; synergy deduction is appropriate to account for value from anticipated cost and tax-related savings due to merger.

Arizona Court Says Owner’s Goodwill in Restaurants Represents Community Asset

Appeals court affirms trial court’s decision to give wife portion of value of goodwill in two restaurants husband set up with new partner during separation, where restaurants carried husband’s name and featured recipes he had developed during the marriage; goodwill is a community asset.

Jimenez v. Jimenez

Appeals court affirms trial court’s decision to give wife portion of value of goodwill in two restaurants husband set up with new partner during separation, where restaurants carried husband’s name and featured recipes he had developed during the marriage; goodwill is a community asset.

Lack of Marketability a Factor in Valuing Minority Interest

In buyout case, calculation of fair value of minority shareholder’s interest in restaurant turns on forensic accountant’s credit/cash ratio analysis; New York trial court says law recognizes lack of marketability as a factor in valuing closely held corpor ...

Cortes v. 3A N. Park Ave. Rest Corp.

In buyout case, calculation of fair value of minority shareholder’s interest in restaurant turns on forensic accountant’s credit/cash ratio analysis; New York trial court says law recognizes lack of marketability as a factor in valuing closely held corpor ...

Valuation Confirms Salability of ‘Unique’ Restaurant’s Goodwill

State high court rejects per se extension of personal goodwill concept to nonprofessional businesses and finds in case at issue restaurant’s valuation indicates goodwill is marketable and thus corporate and subject to marital distribution.

Brave v. Brave (II)

State high court rejects per se extension of personal goodwill concept to nonprofessional businesses and finds in case at issue restaurant’s valuation indicates goodwill is marketable and thus corporate and subject to marital distribution.

Can a Restaurant Have Personal Goodwill?

State appellate court finds “professional license goodwill” exception, which treats personal goodwill as professional spouse’s separate property, applies to “unique,” successful restaurant and directs trial court to determine how much of the business’s go ...

Brave v. Brave (I)

State appellate court finds “professional license goodwill” exception, which treats personal goodwill as professional spouse’s separate property, applies to “unique,” successful restaurant and directs trial court to determine how much of the business’s go ...

Restaurant Value in Divorce Relies on Mere 2x Multiple of Average Annual EBITDA

Court finds that 2x EBITDA multiple is not too low for restaurant valuation, due to 2008 economic downturn and long hours by husband, a solo proprietor.

Successful Restaurant Lost Profits Analysis Turns on Comprehensive Research

Comprehensive research and analysis lend credibility to financial expert’s calculations for over $8 million lost profits and lost goodwill for restaurant.

Shewbart v. Shewbart (II)

Court finds that 2x EBITDA multiple is not too low for restaurant valuation, due to 2008 economic downturn and long hours by husband, a solo proprietor.

LB 4 Fish, LLC v. Developers Diversified Realty Corp.

Comprehensive research and analysis lend credibility to financial expert’s calculations for over $8 million lost profits and lost goodwill for restaurant.

The Great Recession: Is It Grounds for a Court’s Reconsideration of Value?

Court denies motion for rehearing of divorce valuation based on unforeseen economic recession of 2007 – 2008.

Can a Trial Court Value a Restaurant Based on Cash Flow But Ignore Gross Sales?

Husband appeals value of a restaurant that included only a portion of his expert report’s (cash flow) without accounting for the other portion (gross sales).

Mistretta v. Mistretta

Court denies motion for rehearing of divorce valuation based on unforeseen economic recession of 2007 – 2008.

Foppe v. Foppe

Husband appeals value of a restaurant that included only a portion of his expert report’s (cash flow) without accounting for the other portion (gross sales).

Shewbart v. Shewbart (I)

Trial court (divorce) commits reversible error by valuing only the hard assets of a restaurant and ignoring evidence of its substantial annual income and consistent profits.

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