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On double-dip issue, Ohio appeals court agrees with Gallo analysis

A recent Ohio appeals court decision expressly agreed with its sister court’s 2015 ruling in Gallo that state law does not prohibit double dipping but does require the trial court to avoid unfairness in distributing marital assets and determining spousal support.

Ohio Court Affirms Facts of Case Don’t Require ‘Double-Dipping Offset’

Ohio appeals court upholds trial court’s spousal support determination based on husband’s average, rather than normalized, income, finding “equity did not require a double-dipping offset”; court agrees with sister court’s ruling in Gallo that applicable statute does not prohibit double dipping.

Kim v. Kim

Ohio appeals court upholds trial court’s spousal support determination based on husband’s average, rather than normalized, income, finding “equity did not require a double-dipping offset”; court agrees with sister court’s ruling in Gallo that applicable statute does not prohibit double dipping.

Washington appeals court issues key ruling on entity goodwill

In a “complicated” (court’s word) dissolution case, the Washington Court of Appeals recently made an important ruling on whether a professional limited liability company (PLLC) can have goodwill separate from the goodwill of the professionals.

McLelland v. Paxton

In dissolution dispute, appeals court affirms trial court’s finding, based on plaintiff expert testimony, that dissolved professional LLC had entity goodwill at trial based, in large part, on ownership of three leases and operation of offices that doctors could use upon termination of partnership.

Washington State Appeals Court Adopts Rule on Entity Goodwill in Professional LLC

In dissolution dispute, appeals court affirms trial court’s finding, based on plaintiff expert testimony, that dissolved professional LLC had entity goodwill at trial based, in large part, on ownership of three leases and operation of offices that doctors could use upon termination of partnership.

Connecticut Appellate Court Remands Because of Impermissible Double Dipping

Appellate court remands because of trial court’s impermissible double dipping, where trial court awarded wife half of the fair market value of husband’s two solely owned businesses, which represented husband’s sole income stream, and based spousal support on annual income generated by businesses.

Oudheusden v. Oudheusden

Appellate court remands because of trial court’s impermissible double dipping, where trial court awarded wife half of the fair market value of husband’s two solely owned businesses, which represented husband’s sole income stream, and based spousal support on annual income generated by businesses.

Trustee’s Attack on Merger Projections Fails to Resonate With Court

Court says trustee fails to show debtor was insolvent under any applicable financial condition tests; contemporaneous industry analysis and valuations by financing banks belie claim that management projections in support of merger were unreasonable.

Brusach v. Brusach

In divorce case featuring veterinary practice, appeals court finds trial court did not err when it did not differentiate between personal and enterprise goodwill and trial court’s spousal support determination did not represent unlawful double dipping.

Court Declines to Set Firm Rules on Goodwill and Double Dipping

In divorce case featuring veterinary practice, appeals court finds trial court did not err when it did not differentiate between personal and enterprise goodwill and trial court’s spousal support determination did not represent unlawful double dipping.

Trustee’s Attack on Merger Projections Fails to Resonate With Court

Court says trustee fails to show debtor was insolvent under any applicable financial condition tests; contemporaneous industry analysis and valuations by financing banks belie claim that management projections in support of merger were unreasonable.

Weisfelner v. Blavatnik (In re Lyondell Chem. Co.)

Court says trustee fails to show debtor was insolvent under any applicable financial condition tests; contemporaneous industry analysis and valuations by financing banks belie claim that management projections in support of merger were unreasonable.

Valuation of key marital asset demands expert opinion

In a Mississippi divorce, the husband's sole-owned fitness training company was the key asset. An accurate valuation was central to achieving an equitable distribution of property, but the parties did not hire experts or even submit much financial information to the trial court.

No Place for DLOM and Tax Affecting in N.Y. Fair Value Determination

In statutory fair value proceeding to enable buyout of minority interest in limited liability companies, New York court says prevailing expert opinion understates future income stream; court upward adjusts by eliminating DLOM and disallowing tax affecting ...

Verghetta v. Lawlor

In statutory fair value proceeding to enable buyout of minority interest in limited liability companies, New York court says prevailing expert opinion understates future income stream; court upward adjusts by eliminating DLOM and disallowing tax affecting ...

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.

Court Nixes Double-Dip Claim Based on Accounts Receivable Treatment

Appeals court rejects claim that accounts receivable used in asset-based business valuation by wife’s expert are analogous to future income stream for purposes of arguing double dip in light of income determination for spousal support award.

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.

Asset Approach Avoids Double Counting of Future Earnings

Appeals court affirms trial court’s decision favoring asset approach for valuing owner spouse’s medical practices; unlike income approach, it avoids accounting for owner spouse’s future earning twice, in asset valuation and determination of alimony.

Court Backs Away From Support for Double-Dip Theory

In a divorce case involving dental practice, appeals court says using income stream “as a tool” to value a professional business and then using it “as actual income for a spousal support calculation” does not per se amount to impermissible double dipping.

Court Rejects Flat Prohibition Against Double Dipping

Appeals court finds Ohio statute requires trial court to consider income from all sources in calculating spousal support and overrules Heller I to extent Heller imposes a flat prohibition against double dipping; mandate is to ensure fairness and equity.

Court Rejects Double-Dip Claim, Emphasizing Owner’s General Earning Capacity

Appellate court says trial court did not double dip where it predicated its alimony order on husband’s general earning capacity, independent of husband’s employment at companies that were marital assets subject to property division.

Callahan v. Callahan

Appellate court says trial court did not double dip where it predicated its alimony order on husband’s general earning capacity, independent of husband’s employment at companies that were marital assets subject to property division.

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