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Court Infers Nature of Goodwill From Nature of Business

Appeals court affirms trial court’s valuation, which implicitly assigned goodwill to business, finding that since the company was not a professional practice it is likely that the company’s, rather than the owner spouse’s, reputation brings in business.

Admissibility Does Not Depend on Personal Knowledge of Facts

Appeals court says expert’s lack of personal knowledge of information undergirding lost profits calculation does not disqualify his opinion, as long as he can show experts in his field would rely on this information and it is otherwise reasonably reliable ...

Rabe v. Rabe (II)

Appeals court affirms trial court’s valuation, which implicitly assigned goodwill to business, finding that since the company was not a professional practice it is likely that the company’s, rather than the owner spouse’s, reputation brings in business.

Am. Eagle Waste Indust., LLC v. St. Louis County

Appeals court says expert’s lack of personal knowledge of information undergirding lost profits calculation does not disqualify his opinion, as long as he can show experts in his field would rely on this information and it is otherwise reasonably reliable ...

Divorce Court Discredits Experts for Manipulating Data

Divorce court finds that husband manipulated assets of trucking company during divorce to lower its net asset value, and discredits husband’s expert for relying on manipulated data and applying a 10% marketability discount.

In re the Marriage of Hoker

Divorce court finds that husband manipulated assets of trucking company during divorce to lower its net asset value, and discredits husband’s expert for relying on manipulated data and applying a 10% marketability discount.

Gresh v. Waste Services of America

Federal district court permits expert to testify regarding damages based on the value of plaintiff’s 5% share in the defendant closely held company, but bars testimony on prejudgment interest, pursuant to state law regarding unliquidated damages.

Divorce Court Applies 35% Minority Discount to 50% Interest in Going Concern

Montana high court rejects 35% minority discount to husband’s half interest in a closely held, family business, which he owned with his father and had equal say over operations, management, and application of funds.

In re Marriage of Williams

Montana high court rejects 35% minority discount to husband’s half interest in a closely held, family business, which he owned with his father and had equal say over operations, management, and application of funds.

Rabe v. Rabe (I)

Divorce court discredits expert valuation for failure to independently verify information provided by the owner/husband.

Try Hours, Inc. v. David L. Swartz, et al.

The Court of Appeals of Ohio reversed the trial court’s granting of summary judgment for defendants on the basis that plaintiff’s damages were speculative and that the methodology used by plaintiff’s expert to calculate lost profits was flawed. The reviewing court found that the damages calculation gave rise to genuine issues of material fact that precluded the summary dismissal of plaintiff’s claims.

A ‘Silent’ Record on Goodwill Spells Remand

Good reminder for appraisers (and attorneys) to make sure distinction between profession/personal and enterprise goodwill makes it into the court record.

ERISA Does Not Shield ESOP Appraiser From State Professional Liability Claims

Federal court finds that ERISA does not shield ESOP valuation firm from professional liability claims in state court.

Smith v. Smith

Good reminder for appraisers (and attorneys) to make sure distinction between profession/personal and enterprise goodwill makes it into the court record.

Denkinger et al. v. Clark et al. and Ameritas Investment Corp.

Federal court finds that ERISA does not shield ESOP valuation firm from professional liability claims in state court.

Book value acceptable where other factors have been considered

In this marital dissolution, one of the issues was the correct valuation of husband’s family trucking business, comprised of three companies.

In re the Marriage of Walbon

In this marital dissolution, one of the issues was the correct valuation of husband's family trucking business, comprised of three companies.

Erroneous assumptions lead to exclusion of testimony

The issue in this procedurally complex malpractice appeal was the damages caused by attorney’s actions and inactions.

Jarrel v. Miller

The issue is this marital dissolution was the value of a commercial trucking business ...

Valuation date, equitable increase in value award affirmed

Husband’s failure to provide financial information about the business beyond the valuation date used by wife’s expert precluded him from challenging the valuation date.

Court Accepts Analogy of Outside Board Chair for Reasonable Compensation Case

The issue in this case was whether the company could deduct amounts paid to an officer-shareholder as reasonable compensation during the tax years at issue.

Wilson v. Wilson

Issue involves the increase in value of the husband's business during the marriage.

E.J. Harrison and Sons, Inc. v. Commissioner

Issue is whether compensation paid to taxpayer's officer was reasonable compensation that was therefore deductible.

Lost Profits Based on Past Transactions Must Show They Were Comparable

The U.S. Court of Appeals for the 1st Circuit affirmed the district court's decision to limit Camar's damages stemming from Preston's loss of Camar's equipment under the Carmack Amendment to the Interstate Commerce Act to its actual damages.

Camar Corporation v. Preston Trucking Company, Inc.

The U.S. Court of Appeals for the 1st Circuit affirmed the district court's decision to limit Camar's damages stemming from Preston's loss of Camar's equipment under the Carmack Amendment to the Interstate Commerce Act to its actual damages.

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