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Mississippi High Court Clarifies Best Practice for Lost Profits Calculation

In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.

Lane v. Lampkin (III)

In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.

Mississippi High Court Clarifies Best Practice for Lost Profits Calculation

In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.

High Court Finds Trial Court’s Damages Assessment Unsound

State high court strikes down trial court’s damages assessment because it included values from a business valuation when the applicable law required an analysis of the entire loss suffered by a corporation owing to a partner’s breach of fiduciary duty.

Lane v. Lampkin (II)

State high court strikes down trial court’s damages assessment because it included values from a business valuation when the applicable law required an analysis of the entire loss suffered by a corporation owing to a partner’s breach of fiduciary duty.

Tax Court Tacitly Approves of IRS Solvency Assessment

In transferee liability case, solvency experts use gamut of valuation methods to establish when subject became insolvent; Tax Court does not endorse any one approach but appears to give nod to IRS market-based solvency analysis.

Kardash v. Commissioner (I)

In transferee liability case, solvency experts use gamut of valuation methods to establish when subject became insolvent; Tax Court does not endorse any one approach but appears to give nod to IRS market-based solvency analysis.

What Rationale for Net Book Value in Damages Analysis?

Appeals court finds trial court did not err when it incorporated net book value calculation in its lost profits analysis in a case claiming breach of fiduciary duty and usurpation of business opportunity; dissent says damages calculation is “illogical.”

Lane v. Lampkin (I)

Appeals court finds trial court did not err when it incorporated net book value calculation in its lost profits analysis in a case claiming breach of fiduciary duty and usurpation of business opportunity; dissent says damages calculation is “illogical.”

Can a Reasonable Royalty Ever Exceed Lost Profits?

Federal Circuit confirms that neither the infringer’s profits nor the patentee’s expected lost profits serves to cap reasonable royalty damages.

Powell v. The Home Depot U.S.A., Inc.

Federal Circuit confirms that neither the infringer’s profits nor the patentee’s expected lost profits serves to cap reasonable royalty damages.

Tax Court’s Adjustment to Reasonable Compensation ‘Dizzying and Arbitrary’

7th Circuit reverses Tax Court’s determination of reasonable compensation for CEO of third largest retail hardware chain, questioning its reliance on investor rate of return as the sole driver of a decision.

Menard v. Commissioner (II)

Seventh Circuit reverses Tax Court’s determination of reasonable compensation for CEO of third largest retail hardware chain, questioning its reliance on investor rate of return as the sole driver of a decision, and rejecting its comparison to comparable ...

Lost Future Earnings of Sole Proprietor Are Not Established Where Business Lacks Profit History

The Tennessee Court of Appeals determined that an award of lost future earnings as a component of personal injury damages could not be based on the lost business profits of the injured party’s sole proprietorship when the business’s operating history indicates losses and when it lacks in-place contracts.

Joe W. King, Jr. v. General Motors Corporation

The Tennessee Court of Appeals determined that an award of lost future earnings as a component of personal injury damages could not be based on the lost business profits of the injured party’s sole proprietorship when the business’ operating history indicates losses and when it lacks in-place contracts.

Valuation Is Irrelevant to Establish Knowledge by Stranger to Indenture of Its Breach

The issue in this case was whether an acquired company was worth more or less than a loan amount an indenture’s negative pledge covered.

In re Hechinger Investment Company of Delaware, Inc.

Claim for equitable lien denied on the basis that the creditor (Chase) negotiated a loan in good faith without knowledge of the negative pledge against the company (Builder's Square).

Court upholds valuation but overturns money judgment payable immediately

The issue in this marital dissolution was the valuation and distribution of the husbands nonvoting stock in the family business, Savage Wholesale Building Materials, Inc.

In re the Marriage of McDonald

At issue is the valuation of husband's separately owned stock in a closely held family corporation.

Lost Value Fixed as of Contract Termination Date

The U.S. Court of Appeals for the 9th Circuit affirmed the lower court’s decision to value a business at the end of the contract term, even though the business was destroyed by Kyocera’s breach of that contract.

Payson v. Payson

The Georgia Supreme Court considered the characterization of stock and stock options. The wife owned stock and stock options in Home Depot before the marriage, which were exercised during the marriage with pre-marital funds. The lower court characterized ...

Stock Appreciation Is Not Entirely Marital Property

The Georgia Supreme Court considered the characterization of stock and stock options. The wife owned stock and stock options in Home Depot before the marriage, which were exercised during the marriage with pre-marital funds. The lower court characterized ...

Deposits of FLP Income to Personal Bank Account Cause Disallowance of Gifts

The decedent, Dorothy Schauerhamer, established three partnerships to which she gifted assets, primarily commercial real estate.

Schauerhamer v. Commissioner

At issue is whether the value of certain assets transferred to family partnerships is includable in the decedent's gross estate.

Family Limited Partnership Disregarded Where Decedent Used Partnership Funds for Personal Expenses

The Tax Court concluded that three family limited partnerships should be disregarded and the value of their assets included in the value of the decedent's gross estate under IRC sec. 2036.

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