Closets by Design
This industry comprises establishments primarily engaged in building finishing trade work (except drywall, plaster and insulation work; painting and wall covering work; flooring work; tile and terrazzo work; and finish carpentry work). The work performed may include new work, additions, alterations, or maintenance and repairs.
Marshall v. Marshall (II)
On second review, appeals court says trial court satisfied task on remand; latter’s use of reasonable compensation calculation to establish income for alimony and child support purposes was in the spirit of parties’ agreement and was based on “entirely credible” testimony by husband’s BV expert.
Courts Agree Reasonable Compensation Is Sound Method for Calculating Spousal Support in S Corp Context
On second review, appeals court says trial court satisfied task on remand; latter’s use of reasonable compensation calculation to establish income for alimony and child support purposes was in the spirit of parties’ agreement and was based on “entirely credible” testimony by husband’s BV expert.
Marshall v. Marshall (I)
Appeals court says parties’ agreement is ambiguous as to whether distributions related to husband’s ownership in S corp. are includable in alimony and child support calculation; on remand, trial court must determine what income parties meant when specifying use of pretax income from employment.
Courts Agree Reasonable Compensation Is Sound Method for Calculating Spousal Support in S Corp Context
Appeals court says parties’ agreement is ambiguous as to whether distributions related to husband’s ownership in S corp. are includable in alimony and child support calculation; on remand, trial court must determine what income parties meant when specifying use of pretax income from employment.
Appraisers Dodge ERISA but Not Malpractice Claims in Valuing ESOP
Court finds all ERISA claims against the company, ESOP plan fiduciaries, and appraisal firm for fraud and breach of fiduciary duty are barred by the statute of limitations, but permits state law negligence/malpractice claims to proceed against the apprais ...
Rebuttal Expert May Be Redundant in Offering Only a Critique
Court admits the “before and after” as well as the “yardstick” model developed by the plaintiff’s lost profits expert, leaving questions regarding the underlying assumptions and data for cross-examination at trial, but excludes the defendant’s rebuttal wi ...
Court Tries to Make ‘Heads or Tails’ of Discounts in Divorce
Appellate court affirms “sizeable” discounts for real estate development companies, including ones for bulk sale and carrying costs.
Enneking v. Schmidt Builders Supply Inc.
Court finds all ERISA claims against the company, ESOP plan fiduciaries, and appraisal firm for fraud and breach of fiduciary duty are barred by the statute of limitations, but permits state law negligence/malpractice claims to proceed against the apprais ...
B-K Cypress Log Homes v. Auto-Owners Insurance Company
Court admits the “before and after” as well as the “yardstick” model developed by the plaintiff’s lost profits expert, leaving questions regarding the underlying assumptions and data for cross-examination at trial, but excludes the defendant’s rebuttal wi ...
Fair Value Standard in Massachusetts Precludes Any Discounts in Divorce
Massachusetts Court of Appeals confirms that the fair value standard in divorce cases precludes application of any discount, either for lack of marketability or lack of control, for any closely held company, even highly restricted shares in family owned b ...
Barth v. Barth
Appellate court affirms “sizeable” discounts for real estate development companies, including ones for bulk sale and carrying costs.
Caveney v. Caveney
Massachusetts Court of Appeals confirms that the fair value standard in divorce cases precludes application of any discount, either for lack of marketability or lack of control, for any closely held company, even highly restricted shares in family owned b ...
Divorce Court Says SSVS-1 Is Instructive But Not Binding
Divorce court finds AICPA BV standards (SSVS-1) instructive but not binding on valuation of goodwill.
Teams of Experts Help Court and Creditors Value Huge, Bankrupt Homebuilder
Bankruptcy court voids over $600 million in transfers to subsidiaries of bankrupt homebuilders based on teams of expert testimony regarding solvency opinions and lack of reasonably equivalent value.
In re Marriage of Devries
Divorce court finds AICPA BV standards (SSVS-1) instructive but not binding on valuation of goodwill.
In re TOUSA, Inc.
Bankruptcy court voids over $600 million in transfers to subsidiaries of bankrupt homebuilders based on teams of expert testimony regarding solvency opinions and lack of reasonably equivalent value.
Court-Appointed Expert Appeals a Second Time for Malpractice Immunity
Supreme Court of Minnesota reverses lower court’s opinion and extends quasi-judicial immunity to neutral experts appointed under Rule 706 of the applicable rules of evidence.
Peterka v. Dennis (II)
Supreme Court of Minnesota reverses lower court’s opinion and extends quasi-judicial immunity to neutral experts appointed under Rule 706 of the applicable rules of evidence.
Fair Value of Real Estate Company Must Include Marketplace Cost and Risks
Court determines fair value of real estate development company using net asset approach.
Marsh v. Billington Farms, LLC
Court determines fair value of real estate development company using net asset approach.
In re the Marriage of Divin
Steven, who was born in 1968, and Sharon, who was born in 1960, were married in 1991. Two children, Mitchell and Kylie, were born during the marriage. The parties met while both were working at Millard Refrigerated Services. Other than a $10,000 retiremen ...
Wesley B. Binder v. Tamatha E. Thorne-Binder
The Missouri Court of Appeals, Western District, affirmed a lower court’s valuation of a business’s intangible asset. The valuation was based on the testimony of a spouse, who was involved in the business as it accountant. Further, the other spouse’s plea ...
Business’s Intangible Value Based on Involved Spouse’s Testimony
The Missouri Court of Appeals, Western District, affirmed a lower court’s valuation of a business’s intangible asset. The valuation was based on the testimony of a spouse, who was involved in the business as it accountant. Further, the other spouse’s plea ...
City of Santa Clarita v. NTS Technical Systems
The California Court of Appeals, Second District concluded, based on the testimony of a financial expert, that the owner of condemned property suffered no loss to its goodwill as a result of a partial taking of property used as a munitions testing facilit ...