Inzer v. Inzer
Court finds that when a non-shareholder spouse signs a buy-sell agreement, she is bound by its value in divorce.
No Appraisers Needed Where Buy-Sell Agreement Specifies Board Determines FMV of Shares
The Stock Repurchase Agreement of Staffing Industry Analysts Inc. (SIA) required that, upon termination of employment, an employee shareholder would have to sell (and the company to buy) all the shares she then owned.
Marketability discount may be applied where there is no impending sale but is within court’s discretion
The valuation issues in this marital dissolution were whether a discount for lack of marketability should have been applied to husband’s minority interests in two medical-practice businesses, and whether a buy-sell provision in a third business was determinative of that business's fair market value.
Daly v. Yessne
The Stock Repurchase Agreement of Staffing Industry Analysts, Inc. (SIA), required that upon termination of employment, an employee shareholder would have to sell (and the company to buy) all the shares she then owned.
Fausch v. Fausch
The valuation issues in this marital dissolution were whether a discount for lack of marketability should have been applied to husband's minority interests in two medical-practice businesses, and whether a buy-sell provision in a third business was determ ...
Gary Raiczyk v. Ocean County Veterinary Hospital, et al.
The U.S. Court of Appeals affirmed the decision denying reformation of closing documents prepared and signed in connection with the sale of shares in a veterinary hospital.
Valuation Based on Pricing Formula in Buy-Sell Agreement Upheld
Husband was a part owner of Pingree & Watterworth PA, an orthodontic practice.
In re the Marriage of Watterworth
Issue is whether court erred in valuing orthodontic practice based on formula in buy-sell agreement.
FMV Formula in Agreements Requires Inclusion of All Assets
One of the issues in this case was whether the trial court erred in using a book valuation method in determining share price.
Shriner v. Sheehan
One of the issues in this case was whether the trial court erred in using a book valuation method in determining share price.
Buy-Sell Agreements Fail Lauder II Test and Are Considered Testamentary Devices
This 336-page estate and gift case deals with a $75,935,883 tax deficiency and $30,328,153 in associated penalties asserted by the IRS.
Estate of True v. Commissioner
1Cases of the following petitioners are consolidated herewith: Jean D. True, docket No. 3408-98 and Estate of H.A. True, Jr., Deceased, H.A. True, III, Personal Representative, docket No. 3409-98. T.C. Memo. 2001-167 UNITED STATES TAX COURT ESTATE OF H.A. TRUE, JR., DECEASED, H.A. TRUE, III, PERSONAL REPRESENTATIVE, AND JEAN D. TRUE, ET AL.1, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 10940-97, 3408-98, Filed July 6, 2001. 3409-98. Buford P. Berry, Emily A. Parker ...
Buy-Sell Agreements Are Testamentary Devices
This 336-page estate and gift case deals with a $75,935,883 tax deficiency and $30,328,153 in associated penalties asserted by the IRS.
Buy-Sell Agreements Do Not Control for Estate Tax Purposes
The Tax Court considered whether buy-sell agreements controlled the value of the business interests the decedent held for estate and gift tax purposes.
Ignoring non-compete and/or employment agreements often causes overvaluations
An important adjustment that many business appraisers, attorneys, and courts often overlook is the deduction of the value of a non-compete agreement and/or employment agreement in reaching a conclusio ...
Reviewing case law helps avoid most frequent errors
Miriam Mason and Michael Cohen presented a seminar at the 1999 AICPA National Business Valuation Conference, December 5-7, 1999, in Las Vegas, Nevada. The title of the presentation was From a Matrimo ...
Marital dissolution case law review and summaries
Becky Petig, a law intern for the Judges & Lawyers Business Valuation Update , has compiled, analyzed, and summarized numerous marital dissolution cases for all U.S. jurisdictions. The complete s ...
National CLE Conference addresses valuation issues
From Jan. 3-15, 2000, Law Education Institute held its annual National CLE Conference in Vail, Colorado. The general focus of the conference was to address the basics of various areas of law, incl ...
Dental practice valuation upheld
One of the primary issues in this marital dissolution was the value of two businesses that the wife held an interest in: Dental Health Care Center, P.A. (DHCC) , a dental practice, and Pro ...
Extraordinary Circumstances Warrant Marketability Discount in Buyout
In November 1999, the Minnesota Court of Appeals ruled, in a case of first impression in Minnesota, that a marketability discount should not be applied to determine the fair value of Brian Follett's one-third interest in Advanced Communication Design Inc. (ACD).
Cashin v. Cashin
At issue is the valuation of wife's interest in a dental practice and a dental partnership and the couple's homestead.
Owner-Practitioner’s Compensation Must Be Considered
The Minnesota Court of Appeals affirmed the lower court's valuation of a dental practice. It found that the valuation considered the dentist's compensation in calculating the business' net income, it also found that no adjustment needed to made for a non ...
Advanced Communication Design, Inc. v. Follett (II)
At issue is whether, in a court-ordered buy-out of a minority shareholder pursuant to Minn. Stat. § 302A.751 (1998), a marketability discount should be applied to the value of the shares.
Buy-sell agreement one factor in value of medical practice
In this marital dissolution case, the wife appealed the trial court's valuation of her husband's interest in a medical practice.
Harmon v. Harmon
At issue is the valuation of husband's medical practice.