Wong v. Wong
The defendants and plaintiffs were all family members who co-owned seven apartment buildings that the defendants managed. The defendants embezzled profits from the buildings for at least a decade. On appeal, the defendants conceded plaintiffs were entitled to an award of both compensatory and punitive damages based on their wrongdoing, but they challenged the amount of the awards. The appellate court agreed that the punitive damages were excessive as a matter of law and adjusted them. All other defendants’ contentions were rejected, and the trial court was affirmed in those matters.
California Appeals Court Reduces Punitive Damages as Being Excessive
The defendants and plaintiffs were all family members who co-owned seven apartment buildings that the defendants managed. The defendants embezzled profits from the buildings for at least a decade. On appeal, the defendants conceded plaintiffs were entitled to an award of both compensatory and punitive damages based on their wrongdoing, but they challenged the amount of the awards. The appellate court agreed that the punitive damages were excessive as a matter of law and adjusted them. All other defendants’ contentions were rejected, and the trial court was affirmed in those matters.
Experts clash over definition of ‘net worth’ in New Jersey buyout dispute
Business partners often think that a buyout agreement will forestall future conflicts. A recent New Jersey case proves the opposite.
Namerow v. PediatriCare Associates, LLC
In pediatrician buyout suit, court says practice’s operating agreement requires net worth calculation; court agrees with defense expert’s definition of “net worth” as the value of assets minus liabilities, as stated in the balance sheets, and rejects proposed inclusion of intangible assets.
Court Says Expert’s Inclusion of Intangible Assets Violates Buyout Agreement
In pediatrician buyout suit, court says practice’s operating agreement requires net worth calculation; court agrees with defense expert’s definition of “net worth” as the value of assets minus liabilities, as stated in the balance sheets, and rejects proposed inclusion of intangible assets.
Parol evidence of components of sales price admissible for valuation
An issue raised in this marital dissolution concerned the husband's 50% interest in Z & G, Inc. The wife appealed the trial court's valuation of $105,653. During the divorce proceeding ...
In re the Marriage of Godes
At issue is the valuation of husband's interest in a family farm corporation.
Value of family farm interest includes expected harvest yield but not government subsidies
In this marital dissolution, the husband appealed the property division ordered by the district court on the grounds of erroneous valuations.
Zunk v. Zunk
At issue is the valuation of husband's 50% shareholder interest in Z & G, Inc.
Scott v. Universal Fidelity Group
At issue is the meaning of "net worth" under the Fair Debt Collection Practices Act ("the FDCPA").
Scott v. Universal Fidelity Group
Scott sought to compel discovery of defendant's financial picture. Discussion of the meaning of "net worth" within the Fair Debt Collection Practices Act ensued.
Carr v. Carr
One issue in this case was the court forced sale of a family business and a the court's requirement that the husband sign a non-compete agreement.