Estate of Michael J. Jackson v. Commissioner
Tax Court mostly sides with estate of late superstar in valuing three contested assets; assets had to be valued separately, based on parties’ stipulations, and at death; court says Jackson’s “tattered” image and likeness meant he earned little money apart from his music; court rejects tax affecting.
Minera Aquiline Argentina SA v. IMA Exploration Inc.
In Minera Aquiline Argentina SA v. IMA Exploration Inc., 2006 BCSC 1102 (July 14, 2006), the Supreme Court of British Columbia considered whether damages or a constructive trust was the appropriate remedy in this breach of confidentiality agreement case.
Calculating But-For Profits
Do you feel like being asked to calculate but-for-profits feels like an engagement in another dimension? Calculating the position the harmed party would have been in “but for” the alleged acts is an advanced skill for appraisers. Join expert and contributing author to The Comprehensive Guide to Economic Damages, Stacey Udell, for a discussion of different strategies to determine net lost profits including the critical step of removing incremental costs that did not occur. Every ...
Companies in Distress: Valuing the Impaired and Currently Unprofitable
As benchmarks, indicators, and pundits show that the end of recent economic woes are in sight, the fall-out and clean up of recent trouble continue across the economy. Nowhere is this more true than in the arena of business valuation, where the volume impaired and distressed business appraisals continue to escalate. Though the valuation of an unprofitable business is a challenge in its own right, it's only exacerbated by the recent economic environment.
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”).
Irene Dinyer-Frazer v. Laurentian Bank, et al.
In Irene Dinyer-Frazer v. Laurentian Bank, et al., 2005 BCSC 225 (February 18, 2005), the Supreme Court of British Columbia considered the amount of past and future wages lost as a result of defamation. Dinyer-Fraser was an investment advisor. In 1992, sh ...
Ritchie v. Rupe
Texas Court of Appeals affirmed availability of forced buy-out remedy for shareholder oppression and held that when minority oppressed shareholder wants to sell, the fair market value standard (including discounts) is appropriate.
ASA_BVReview_Spring17
Free Downloads
Download the Spring 2017 issue of the Business Valuation Review that includes articles on petroleum property income and market valuation approaches, a primer on bargain purchases and negative goodwill, and much more.
How to Prepare a Discount for Lack of Marketability for the IRS
Join Michael Gregory, formerly of the IRS, to hear the most current thinking on discounts for lack of marketability. In this program, Gregory will offer his insights into the IRS Job Aid on Discount for Lack of Marketability that he championed while at the IRS. Take advantage of his firsthand knowledge and extensive experience in the private sector when addressing DLOM issues—particularly when they involve federal tax or technical issues. You won't want to miss ...
The Effect of the Changing U.S. Economy on Healthcare Valuation
The continuing rise in the cost of health care services, representing a significant percentage of both government and business expenditures (not to mention the budgets of individuals and families), has become an increasingly regular news item.
In re Appraisal of Jarden Corp. (I)
Court finds record shows unaffected market price is best evidence of fair value; court says company expert’s efficient market analysis and event study provide strong support for use of market price; court’s own DCF analysis generates value close to market price, thus corroborating market price.
In re Flag Telecom Holdings, Ltd. Securities Litigation
Expert’s market event study helps support loss causation claims and class certification in larger securities litigation.
Forecasting: Removing Rose Colored Glasses
Projections are commonly relied on for business valuations, lost profits analyses, reorganization plans, and a host of other projects within litigation. Using forensic accounting analysis, the speaker will address “rose-colored” projections and how to work with them. Expert Josh Shilts will discuss how to increase confidence levels of projections using macro and micro market data along with statistical analysis.
Gift_Tax_Report_Family_LLC_with_Real_Estate
Sample Reports
45 PERCENT AND 10 PERCENT MEMBER INTERESTS IN GREEN INVESTMENTS, LLC VALUATION REPORT OCTOBER 31, 2020 © TRUGMAN VALUATION ASSOCIATES, INC. 2020 TABLE OF CONTENTS Page INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Description of ...
Holman v. Commissioner (I)
U.S. Tax Court takes an unusual approach to DLOM, holding periods, in attack on family limited partnership.
Derby v. Commissioner
Tax Court denies charitable deductions for donation of intangible goodwill from taxpayers’ medical practices to newly formed healthcare corporation.
Discount and Capitalization Rates Part II: Theory, Practical Applications and Understandable Presentations
November 8, 2006 Teleconference Transcript; Panel: Jim Hitchner (Moderator), Gary Trugman and Jim Alerding ...
Shareholder Dissent: Current Issues
This paper outlines recent developments and trends in Canadian and United States case law afecting the determination of “fair value” and other related issues with respect to shareholders who exercise their rights to dissent under the appraisal-remedy prov ...
Towerview LLC v. Cox Radio, Inc.
In statutory appraisal action related to radio broadcasting business, Court of Chancery affirms that pre-merger management projections generally are an “appropriate starting point” for the requisite DCF analysis; however, given signs of secular change in ...
Courtroom Confidential: Solutions to Real-World Valuation Problems
In theory, valuation experts and attorneys share distinguished professions where documented case law and peer-reviewed methodology come together in perfect harmony. In reality, things get messy—particularly in divorce cases. Join matrimonial attorney Jennifer Rosenkrantz and valuation expert Pat Rafanelli for a discussion of several real-life scenarios regarding valuation issues in divorce cases and how those issues would be considered by attorneys and forensic experts. Hear fact patterns, and get complete insight from both an attorney ...
Estate_Tax_Holding_Company
Sample Reports
90 PERCENT LIMITED PARTNERSHIP INTEREST IN SANDALS ENTERPRISES, LP VALUATION REPORT SEPTEMBER 19, 2020 © TRUGMAN VALUATION ASSOCIATES, INC. 2021 June 7, 2021 Brown & Brown, LLC 123 Village Square City, SC 29123 Attn: Harvey Brown, Esq. Re: Valuation of a 90 percent limited partnership interest in Sandals Enterprises, LP Dear Mr. Brown: We have performed a valuation engagement, as that term is defined in the Statement on Standards for Valuation Services (SSVS) of the Association of International Certified Professional Accountants of a 90 percent limited partnership interest in Sandals ...
The Smythe Family Partnership Valuation Report July 30, 2006
THE SMYTHE FAMILY PARTNERSHIP VALUATION REPORT JULY 30, 2006 A I C P A A r t i c l e BVR W h a t I t ’ s W o r t h An AICPA Sample Valuation Report Reprinted with permission by Business Valuation Resources, LLC Thank you for visiting BVResearch and downloading this article. This sample valuation report was excerpted from the book Understanding Business Valuation, 3rd Edition, by Gary Trugman ...
In re Toys “R” Us, Inc., Shareholder Litigation
One of the issues was whether the board’s financial advisor, Credit Suisse First Boston (First Boston), correctly excluded a control premium in its assessment of the company’s value, and, thus, whether the board failed to reasonably consider the value of ...
Nestle Holdings v. Commissioner
At issue is the fair market value of Carnation's inventory, trademarks and trade names, unpatented technology, and goodwill and going concern for federal income tax purposes.
Gotham Partners, L.P. (Gotham I) v. Hallwood Realty Partners, L.P., et al.
The Delaware Court of Chancery determined that the appropriate measure of damages for breach of fiduciary duty resulting from the sale of partnership units to the managing partners was the difference between the transaction price and the amount a third pa ...