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In unusual business tort case, court exhibits flexibility in terms of calculating damages

The 8th Circuit recently upheld a sizable damages award in an unusual business tort case litigated under Nebraska law. One noteworthy aspect in terms of determining economic damages was that the court allowed expert testimony regarding the loss of value to the plaintiff even though the plaintiff did not fail completely upon the wrongdoing.

St. Jude Med. S.C., Inc. v. Biosense Webster, Inc.

Appeals court affirms plaintiff’s employment contract with employee is enforceable, and competitor interfering with it is liable for profits plaintiff employer lost; court notes plaintiff established causation and proved loss with reasonable certainty.

Multimillion-Dollar Personal Goodwill Allocation Leaves Court Stunned

Court says defendants were unjustly enriched when they allocated 40% of the price a competitor paid for assets of and to settle lawsuit with their company to personal goodwill where they also received compensation for consulting services and noncompetes.

Potok v. Rebh

Court says defendants were unjustly enriched when they allocated 40% of the price a competitor paid for assets of and to settle lawsuit with their company to personal goodwill where they also received compensation for consulting services and noncompetes.

Bross Trucking, Inc. v. Commissioner

Tax Court says taxpayer’s company owned no corporate goodwill and had no right to taxpayer’s personal goodwill and, therefore, was not liable under IRC Sect. 311(b)(1); the taxpayer, in turn, was not liable for gifting corporate goodwill to his sons.

In re Marriage of Gelman

A medical partnership’s exclusive contract to provide anesthesiology services to a hospital is an intangible asset, but since buy-sell agreement limits wife’s interest to $1.00, the court finds she has no ownership interest in the business and the contrac ...

Damages Based on Inconsistent Testimony

Kraatz sued Heritage Imports for wrongful termination.

Entire Settlement Payment Is Purchase Price

One of the issues for the Tax Court was whether $4,856,922 of a $19,886,922 settlement made by Indeck Energy Services, Inc. to Michael P. Polsky was interest deductible by Indeck and recognizable as ordinary income to Polsky or whether it was part of the purchase price for shares of Indeck stock held by Polsky.

Kraatz v. Heritage Imports

Issue was damages where employment agreement entitled plaintiff to 15% of the value of Heritage's stock in excess of $2.5 million, in the event of wrongful termination.

Indeck Energy Services, Inc. v. Commissioner

Issues are whether part of settlement payment constitutes interest deductible by Indeck and recognizable as ordinary income by petitioners, and whether penalties apply.

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.

Distinguishing and measuring personal goodwill in a litigation setting Part 2 of 2 parts

We have published this article on personal goodwill in two parts. The first part of the article, printed in the July 2001 BVU, gave a background on recent court cases that involved and distinguished b ...

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 ...

Arbitration Agreement Case

Appellate court affirmed trial court's denial of motion to compel arbitration.

Ikon Office Solutions v. Eifert

At issue are the terms of an employment agreement and acquisition agreement.

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