Veterinary Practices
This industry comprises establishments of licensed veterinary practitioners primarily engaged in the practice of veterinary medicine, dentistry, or surgery for animals; and establishments primarily engaged in providing testing services for licensed veterinary practitioners.
Cummings v. Cummings
In this appeal of a divorce case in Kentucky, the court determined that the family court did not abuse its discretion in its distribution of the proceeds of the sale of the husband’s veterinary practice. The family court determined that most of the proceeds were enterprise goodwill and, thus, marital property.
Kentucky Court Does Not Consider Date of Marriage Value of Veterinary Practice—Most of Value Is Enterprise Goodwill and, Thus, Marital
In this appeal of a divorce case in Kentucky, the court determined that the family court did not abuse its discretion in its distribution of the proceeds of the sale of the husband’s veterinary practice. The family court determined that most of the proceeds were enterprise goodwill and, thus, marital property.
Brusach v. Brusach
In divorce case featuring veterinary practice, appeals court finds trial court did not err when it did not differentiate between personal and enterprise goodwill and trial court’s spousal support determination did not represent unlawful double dipping.
Court Declines to Set Firm Rules on Goodwill and Double Dipping
In divorce case featuring veterinary practice, appeals court finds trial court did not err when it did not differentiate between personal and enterprise goodwill and trial court’s spousal support determination did not represent unlawful double dipping.
Dated Valuation Not Per Se Unreliable Indicator of FMV
Appellate court upholds dated valuation husband’s expert performed of veterinary hospital two years prior to trial, where it informed proposed sale of minority interest in business to willing buyer and asset was not volatile; there is no “artificial cut-o ...
Sparks v. Sparks
Appellate court upholds dated valuation husband’s expert performed of veterinary hospital two years prior to trial, where it informed proposed sale of minority interest in business to willing buyer and asset was not volatile; there is no “artificial cut-o ...
Court Credits BV Expert With Better Knowledge of Fair Value Law and Replicable Analysis
Court credits more experienced BV expert with statutory fair value appraisal of company that developed animal food supplements.
California DHI, Inc. v. Erasmus
Court credits more experienced BV expert with statutory fair value appraisal of company that developed animal food supplements.
Can a ‘Skeletal’ Expert Report Comply with Federal Disclosure Rules?
Federal district court considers striking a “skeletal” expert report for failure to comply with federal disclosure rules.
Audubon Veterinary Hospital, Inc. v. U.S. Fidelity & Guarantee Co.
Federal district court considers striking a “skeletal” expert report for failure to comply with federal disclosure rules.
Kathleen C. Vicario v. Paul Michael Vicario
The Rhode Island Supreme Court found that the trial court did not err when it adopted a valuation that did not tax-affect the stock in an subchapter S corporation over the valuation that did tax-affect the business when the valuation was performed for div ...
Tax Affecting S Corporation Rejected
The Rhode Island Supreme Court found that the trial court did not err when it adopted a valuation that did not tax-affect the stock in an subchapter S corporation over the valuation that did tax-affect the business when the valuation was performed for div ...
Valuation of a Motion Picture Library Considered
The Tax Court valued a film library consisting of B grade films in connection with an economic substance analysis of a partnership transaction that resulted in substantial capital losses to the taxpayer.
Detter v. Miracle Hills Animal Hospital PC (III)
The Nebraska Supreme Court reversed the Court of Appeals and held that the goodwill of a professional practice may be included as an asset when valuing a professional practice for the purposes of a judicial buyout to avoid dissolution of the practice. It ...
Not having expert puts husband in doghouse
The issue in this marital dissolution was the value of husband’s veterinary practice.
Baker v. Baker
The issue in this marital dissolution was the value of husband’s veterinary practice.
‘Personal Goodwill’ and ‘Business Enterprise Goodwill’ Must Be Excluded From the Valuation of a Professional Practice
The issue in this marital dissolution was the value of husband’s veterinarian practice, Magnolia Animal Clinic, which opened in 1987. The parties filed for divorce in 2000.
Gary Raiczyk v. Ocean County Veterinary Hospital, et al.
The U.S. Court of Appeals affirmed the decision denying reformation of closing documents prepared and signed in connection with the sale of shares in a veterinary hospital.
Goodwill not an asset in Nebraska professional corporations
One issue in this corporate dissolution case was the inclusion of goodwill in the value of the corporation.
Watson v. Watson
The issue in this case was the value of goodwill in husband's vet practice.
Detter v. Miracle Hills Animal Hospital PC (I)
Goodwill is not a marketable asset that stays with a corporation, but, rather, a nonmarketable one that leaves with a professional.
Practice goodwill calculated using excess earnings method upheld; distinguished from personal goodwill
The issues in this marital dissolution were whether the trial court erred in its valuation of husband’s veterinary clinic, Millard Veterinary Clinic (MVC ...
Excess earnings and hidden expenses properly subtracted from value
On appeal, wife challenged the trial court’s valuation of husband’s veterinary practice.
Bungard v. Bungard
On appeal the wife argues that the trial court should not have deducted certain expenses from her expert's valuation of husband's veterinary practice. At issue also is the date of valuation ...