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A Method for Forecasting Property Impairment Resulting From Climate Change

This article adds to the discussion of the impact of environmental, social, and governance (ESG) impacts on the valuation of businesses with real estate as an integral part of their operations.

For a valuation via arbitration, final means final

In a California case, the company that owns the Woodlands grocery store chain decided to buy the condominiums it was renting for its San Francisco store.

Hardiman v. Woodlands Store, Inc.

This appeal in a California court involved a dispute over an appraisal of the plaintiffs’ 15% interest in a grocery store the defendant operated. The plaintiffs alleged that the award of the superior court was obtained by fraud and that the arbitrator prejudiced their rights. The appellate court found no basis for “disturbing” the appraisal-arbitration award.

Appellate Court (California) Declines to Set Aside Appraisal and Decision of Arbitrator

This appeal in a California court involved a dispute over an appraisal of the plaintiffs’ 15% interest in a grocery store the defendant operated. The plaintiffs alleged that the award of the superior court was obtained by fraud and that the arbitrator prejudiced their rights. The appellate court found no basis for “disturbing” the appraisal-arbitration award.

BV News and Trends November 2023

A monthly roundup of key developments of interest to business valuation experts.

BV-real estate gap regarding property rights can skew valuation

At BVR’s exhibit hall booth at the 2023 American Society of Appraisers International Conference in New Orleans, we had a conversation with Barry Cunningham (Property Tax Research LLC) about potential pitfalls when valuing real estate-centric entities (RECEs).

Court has limited menu for steakhouse valuation

In a Michigan case, two 50% owners of a Ponderosa steakhouse were locked in a battle over the Old West-themed eatery, with both owners engaging in oppressive conduct against the other. They left it up to the court to decide their fate.

BVResearch Pro adds to its archive of the ASA’s BV Review

Among many other resources, the BVResearch Pro platform contains the full archive of the Business Valuation Review going back to 1982.

Property Rights and the Real Estate Appraiser

This article provides the business appraiser with a better understanding of how real estate appraisers think about property rights and the distinctions they make between fee simple and leased fee estates. It also discusses two areas where a property rights issue could lead to understating intangible assets in real estate centric entities. Two brief case studies are used to demonstrate where problems can arise and how to resolve them. This is a primer to foster ...

Bankruptcy Court Determines Fair Value Under Asset Approach With ‘Limited Evidence’ Available to It

This case involved a hotly contested battle over the fate of a Ponderosa restaurant in Michigan. The two owners, having had a falling out, pursued contentious litigation to wrest control of the restaurant from each other. Having no business valuation available to the court, the court was left with a real estate appraisal and limited evidence of assets and liabilities to determine the fair value of a 50% interest in the restaurant to be used in the buyout of one of the shareholders by the other shareholder.

Herremans v. Fedo (In re Herremans)

This case involved a hotly contested battle over the fate of a Ponderosa restaurant in Michigan. The two owners, having had a falling out, pursued contentious litigation to wrest control of the restaurant from each other. Having no business valuation available to the court, the court was left with a real estate appraisal and limited evidence of assets and liabilities to determine the fair value of a 50% interest in the restaurant to be used in the buyout of one of the shareholders by the other shareholder.

It’s About Time: Webb on Fractional Interests in Real Estate

After more than 25 years of valuing nonmarketable interests in real estate, Dennis Webb (Primus Valuations) says that the single most important thing in this type of valuation is “time.”

BV News and Trends May 2023

A monthly roundup of key developments of interest to business valuation experts.

Big IRS red flag in fractional interest valuations

A discussion of who the partners are and what they are likely to do in the future is an essential part of a valuation of a fractional interest in real estate, advises Dennis Webb (Primus Valuations).

Have you tried Abbott’s passive appreciation calculator?

In last week’s BVWire, we mentioned that Dr. Ashok Abbott (West Virginia University) has developed an online application that produces a passive appreciation factor on a national level for businesses in the retail sector.

Court do-over to figure passive appreciation for divorce

In an Ohio divorce case, the trial court made an award to the wife based on the full fair market value of the husband’s business.

Unlocking the Value of ESG: Report from the International Valuation Standard Council

This report provides an overview of the work carried out by the International Valuation Standard Council (IVSC) over the past two years in relation to unlocking the value of environmental, social, and governance (ESG) criteria within the valuation process, including a summary of the recently published IVSC ESG perspectives papers and internally generated intangibles. The report also illustrates some key findings from the IVSC ESG survey for firms, investors, and valuation providers and advises when ...

Valuing Real Estate Centered Entities in 2023

A review of the problems business appraisers and analysts see in companies holding substantial amounts of real estate, often necessary to run the business and produce cash flow. Discussion will focus on understanding and incorporating real property appraisal conclusions including an intangible asset and how to test those findings with business valuation evidence ...

Ohio Appellate Court Remands Value of Businesses for Determination of Active Appreciation

This matter involved cross-appeals from a divorce decree in Trumbull County, Ohio. The focus of this digest relates to cross-appeals relating to the values of the husband’s businesses and the matter of active appreciation on those businesses.

Fordeley v. Fordeley

This matter involved cross-appeals from a divorce decree in Trumbull County, Ohio. The focus of this digest relates to cross-appeals relating to the values of the husband’s businesses and the matter of active appreciation on those businesses.

Husband shuns BV expert, loses case

In a Pennsylvania divorce case involving a restaurant, neither the husband nor the wife submitted formal business appraisals.

BV News and Trends April 2022

A monthly roundup of key developments of interest to business valuation experts.

A Nation Getting Older: Valuing Senior Citizen Focused Companies

Join Vanessa Claiborne to learn the latest market trends in senior living, including the impact of the pandemic on value, key valuation metrics, and the short- and long-term outlook for valuations. With discussions on both skilled nursing and senior housing, this event will assist you in practical ways. Don’t miss this distinguished event.

Snyder v. Snyder

In this Pennsylvania divorce matter, the appellate court accepted the wife’s valuation of the marital business using the “gross sales approach,” despite the husband’s objection that she was not qualified to determine the value. The trial court master recommended the wife’s value be accepted. However, the appellate court finds that the trial court double counted four business assets and remanded for a redetermination of the marital estate.

Court Affirms Acceptance of the Wife’s Gross Sales Valuation Method for the Marital Business, Remands for Double Counting of Business Assets

In this Pennsylvania divorce matter, the appellate court accepted the wife’s valuation of the marital business using the “gross sales approach,” despite the husband’s objection that she was not qualified to determine the value. The trial court master recommended the wife’s value be accepted. However, the appellate court finds that the trial court double counted four business assets and remanded for a redetermination of the marital estate.

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