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Industry Characteristics Bolster Reliance on Net Asset Value

In fight over plan confirmation, court finds nature of industry supports debtors’ reliance on net asset value approach to value Chapter 11 dry bulk shipper but not to the exclusion of more traditional methods; however, court rejects use of DCF.

‘Blurred’ Solvency Analysis Diminishes Expert’s Credibility

Bankruptcy court finds expert’s analysis “blurred the line” between going concern and liquidation value, detracting from opinion’s credibility; but court approves of expert’s “precise” time frame for capturing data with which to determine solvency.

‘Reasonably Equivalent Value’ Analysis Is Not a Dollars-and-Cents Issue

For reasonably equivalent value determination, Bankruptcy Court finds contract price and values from experts’ discounted cash flow analyses are too limiting and applies totality of circumstances test, concluding stock transfer is not avoidable.

In re Genco Shipping & Trading Ltd.

In fight over plan confirmation, court finds nature of industry supports debtors’ reliance on net asset value approach to value Chapter 11 dry bulk shipper but not to the exclusion of more traditional methods; however, court rejects use of DCF.

Court Admits Solvency Analysis Lacking Specific Valuation of Debtor

Court finds solvency analysis is not subject to AICPA’s valuation standards and admits expert’s claim that “magnitude of excess” reflected in adjusted balance sheet numbers means assets exceeded liabilities.

Stadtmueller v. Fitzgerald (In re Epic Cycle Interactive, Inc.)

Bankruptcy court finds expert’s analysis “blurred the line” between going concern and liquidation value, detracting from opinion’s credibility; but court approves of expert’s “precise” time frame for capturing data with which to determine solvency.

In re Mercury Companies, Inc. (I)

For reasonably equivalent value determination, Bankruptcy Court finds contract price and values from experts’ discounted cash flow analyses are too limiting and applies totality of circumstances test, concluding stock transfer is not avoidable.

Dietz v. Jacobs

Court finds solvency analysis is not subject to AICPA’s valuation standards and admits expert’s claim that “magnitude of excess” reflected in adjusted balance sheet numbers means assets exceeded liabilities.

Plan Confirmation Hinges on Property Valuation

The Bankruptcy Court finds the debtor’s reorganization plan is not feasible because it fails to provide enough funds to pay in full the primary creditor’s secured claim; the plan rested on an improperly low valuation of the property that makes up the majo ...

In re Civic Partners Sioux City, LLC

The Bankruptcy Court finds the debtor’s reorganization plan is not feasible because it fails to provide enough funds to pay in full the primary creditor’s secured claim; the plan rested on an improperly low valuation of the property that makes up the majo ...

Court Approves Debtor’s ‘Feasible, But Tight’ Plan With 6% Interest Rate

In Chapter 11 proceeding, Bankruptcy Court approves debtor hotel owner’s reorganization plan over objection of creditor that holds both secured and unsecured claims; applying the “Till formula approach,” the court decides the plan’s proposed 6% “cramdown”

In Re: LMR, LLC

In Chapter 11 proceeding, Bankruptcy Court approves debtor hotel owner’s reorganization plan over objection of creditor that holds both secured and unsecured claims; applying the “Till formula approach,” the court decides the plan’s proposed 6% “cramdown”

In re Terrestar Networks, Inc.

Bankruptcy court holds that a security interest may exist in the economic value of an FCC license, despite federal law precluding the granting of a collateral interest in the license itself.

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