Gamache v. Hogue
In a motion related to a lawsuit asserting ERISA violations under the ESOP plan for the defendants, including the Administrative Committee of Technical Associates of Georgia Inc. ESOP and certain individuals, the defendants moved to exclude the testimony and report of the plaintiffs’ expert, Jeffrey Krenzel. Krenzel was an “employee benefits lawyer” with 21 years’ experience, including eight years as a partner in a firm specializing in ESOP transactions. The court determined that Krenzel was qualified and that his opinions and report were reliable and helpful to the trier of fact.
U.S. District Court in Georgia Allows Testimony of Attorney as to ESOP Transaction Process for Employment Agreements
In a motion related to a lawsuit asserting ERISA violations under the ESOP plan for the defendants, including the Administrative Committee of Technical Associates of Georgia Inc. ESOP and certain individuals, the defendants moved to exclude the testimony and report of the plaintiffs’ expert, Jeffrey Krenzel. Krenzel was an “employee benefits lawyer” with 21 years’ experience, including eight years as a partner in a firm specializing in ESOP transactions. The court determined that Krenzel was qualified and that his opinions and report were reliable and helpful to the trier of fact.
Walsh v. Bowers
A district court has ruled “decisively” against the Department of Labor (DOL) in an ESOP valuation case, stressing that the DOL failed to follow standard valuation practices.
District Court Rules ‘Decisively’ Against the DOL in an ESOP Overvaluation Case
The Department of Labor sued the defendants, which included two individual owners, Bowers & Kubota Consulting Inc. and the Bowers & Kubota ESOP, alleging that the defendants had violated ERISA laws by manipulating data to induce the ESOP to pay $40 million for the shares of the individual shareholders that the DOL claimed was in excess of the fair market value of the shares. After extensive testimony of valuation experts and analysis of the facts of the case, the court determined that no ERISA violations have been established.
In Misappropriation Case, Expert’s ‘Head Start’ Damages Calculation Survives Appeal
In breach of fiduciary duty and misappropriation case, appeals court upholds arbitration award of “head start” damages; expert for employer calculated value to the employee from owing equity in competing company whose valuation was higher because of employee’s misconduct toward former employer.
Sabre GLBL, Inc. v. Shan
In breach of fiduciary duty and misappropriation case, appeals court upholds arbitration award of “head start” damages; expert for employer calculated value to the employee from owing equity in competing company whose valuation was higher because of employee’s misconduct toward former employer.
Court Says ‘Fair Value’ Under State Shareholder Oppression Law Precludes Discounts
In shareholder oppression suit, court clarifies meaning of “fair value” under applicable statutory framework; court cautions not to conflate “fair value” with “fair market value”; in drafting statute, state legislature explicitly and implicitly conveys its rejection of discounting, court says.
Kolwe v. Civil and Structural Engineers, Inc.
In shareholder oppression suit, court clarifies meaning of “fair value” under applicable statutory framework; court cautions not to conflate “fair value” with “fair market value”; in drafting statute, state legislature explicitly and implicitly conveys its rejection of discounting, court says.
Service Business Valuation Triggers Double-Dip Rule
New York appellate court finds trial court’s spousal support determination violated double counting rule where expert valued husband’s solely owned engineering company based on an income approach and the business was a service business.
Gifford v Gifford
New York appellate court finds trial court’s spousal support determination violated double counting rule where expert valued husband’s solely owned engineering company based on an income approach and the business was a service business.
Mixed Methodologies Render Expert’s Opinion on Lost Profits Unreliable
Lost profits calculations in construction claims case lacks objectivity, consistency, and specificity.
Fluor Enterprises, Inc. v. Conex International Corp.
Lost profits calculations in construction claims case lacks objectivity, consistency, and specificity.
Lack of Fair Value Appraisal Leaves Minority Shareholder With Assessment of Discounts
Minority shareholder fails to provide fair value appraisal of shares, leaving company’s discounted valuation as the only alternative.
Trietsch v. Circle Design Group
Minority shareholder fails to provide fair value appraisal of shares, leaving company’s discounted valuation as the only alternative.
Scott E. Bova v. Theaodis Gary, Jr.
The Indiana Court of Appeals determined that the trial court may permit the recovery of lost profits from an S corporation as lost earnings capacity damages resulting from the injuries its sole shareholder and prime mover experienced in an automobile accident.
Court’s division based on pro rata breach of fiduciary duty
At issue in this marital dissolution was the valuation of the couple’s engineering consulting business, Oasis Consulting.
Schuneman v. Bellrose
Business was abandoned and lost its value by trial date, but since no alternative valuation date was requested, the court used the original value.
Valuations based on redemption price set by corporations upheld
In this marital dissolution, the court of appeals upheld the trial court's valuation of the husband's interest in Sundquist Engineering, PC , and SEA Corp ., an S corporation, because the ...
Crawford v. Crawford
At issue is the valuation of husband's shares of stock in a closely-held engineering company.
Use of excess income approach and choice of valuation date not abuse of discretion
This marital dissolution appeal concerns the trial court's valuations of marital assets for the marital property distribution.
Nelson v. Nelson
At issue is the valuation of the marital property including couple's engineering company.
In re the Marriage of Mitchell
At issue is the valuation and division of the marital property, including husband's hydrology business.
Personally enjoyed corporate property included in marital property distribution
One of the issues raised in this appeal of the Mitchell marital dissolution was whether corporate assets should have been included in the property distribution.
In re the Marriage of Havrilak
At issue is the valuation of husband's co-ownership interest in an environmental engineering company.
Marketability discount without evidence of basis reversed
The Minnesota Court of Appeals remanded the valuation portion of the district court's decision in this marital dissolution case.