No deduction for tax in shareholder buyout
In a North Dakota partnership dissolution case, the defendants argued on appeal that the district court erred in its valuation.
Sproule v. Johnson
In this partnership dissolution case, the North Dakota Supreme Court affirmed the district court’s decision to use an appraisal of the Canadian entity as of 2019 instead of a value from an earlier agreement in principal. The later date was within the purview of the district court’s flexibility. Further, the Supreme Court affirmed the district court’s decision not to reduce the value of a partnership asset of stock in a Canadian corporation for taxes.
North Dakota Supreme Court Affirms Valuation Date, Affirms No Deduction for Taxes in Determining Stock Value
In this partnership dissolution case, the North Dakota Supreme Court affirmed the district court’s decision to use an appraisal of the Canadian entity as of 2019 instead of a value from an earlier agreement in principal. The later date was within the purview of the district court’s flexibility. Further, the Supreme Court affirmed the district court’s decision not to reduce the value of a partnership asset of stock in a Canadian corporation for taxes.
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.
Puklich v. Puklich
In buyout dispute related to various family businesses, including auto dealership, high court finds trial court was authorized to adjust value finding to account for majority shareholder’s oppressive conduct; case law supported rejection of discounts in valuing minority shareholder’s interest.
High Court Approves of Trial Court’s Rejection of Discounts in Fair Value Determination
In buyout dispute related to various family businesses, including auto dealership, high court finds trial court was authorized to adjust value finding to account for majority shareholder’s oppressive conduct; case law supported rejection of discounts in valuing minority shareholder’s interest.
Woodward v. North Carolina Management Company
Trial court fails to address issue before jury of payments made but enters judgement anyway.
Ross v. American Iron Works
Issues were whether material issue of wrongful conduct precluded summary judgment and whether dissenting shareholder lost his right of action for failure to meeting filing deadline.
Revised Opinion on Rehearing
In the February 2002 issue, we abstracted the Dec. 10, 2001, opinion in this case. Both parties filed petitions for rehearing, which were granted. This opinion on rehearing replaces the original opinion. The only material change in the new opinion addresses when the withdrawing partner's debt to the partnership should be offset.
No Evidence to Support 'Going Concern Value' Adjustment
This is an appeal by the remaining partners of the trial court's findings in determining the value of the withdrawing partner's partnership interest as of the date of dissolution.
Marengo v. Bowen
NOTICE: THIS OPINION WAS REPLACED AFTER REHEARING. WE HAVE KEPT THE ORIGINAL OPINION HERE FOR REFERENCE AND COMPARISON PURPOSES.
Conti v. Christoff
At issue is whether the trial court was required to use a valuation method based solely upon the raw assets of the partnership, or whether the court could order further factfinding based on a different valuation method.
Fair Cash Value Not Error in Valuation of Partnership Interest
This case was on appeal from a magistrate's findings and the trial court's rulings regarding valuation of a 25% limited partnership interest.
Assignee's Interest in Partnership May Require Discounting
The issue in this estate tax matter is whether discounts for lack of marketability, minority status, and poor portfolio diversity should be applied in valuing the decedent's 25% interest in a Texas general partnership, which decedent held as an assignee.
Application of Discounts in Valuing Usurpation Claim Was Error
This litigation involves two closely held corporations and one partnership.
Powell v. Anderson (I)
At issue is the valuation of appellant's interest in the defendant's paper box manufacturing company.
Adams v. U.S. (II)
At issue is whether discounts for lack of control, lack of marketability, and poor portfolio diversity are applicable when appraising the value of an assignee's fractional interest in a Texas general partnership for estate tax purposes.
Bertolla v. Bill
At issue is the valuation of a family farming partnership.
Fair Market Value Used for Partnership Assets Upon Judicial Dissolution
Bill sued for a judicial dissolution of A. Bertolla & Sons, a family farming general partnership, due to Bertolla's misconduct.
Ex Parte Communications Invalidate Arbitrator's Award
At issue is whether ex parte communication by an appraiser in determining a combined minority and marketability discount constituted "undue means" and therefore invalidated the use of the discounts in reaching the valuation conclusion.
Wojdak v. Greater Philadelphia Cablevision, Inc.
Issue was whether ex parte communications with third parties by an arbitrator constituted undue means and invalidated the arbitrator's award.
Goodwill Not Partnership Asset Subject to Division
Two partners in a Texas radiology practice partnership, Salinas and Salazar, decided to terminate the partnership.
Meyer v. Lofgren
The valuation issue is whether goodwill should be considered in valuing an accounting partnership.