Weinstein v. Weinstein
In this Vermont divorce case, the Supreme Court affirmed the value of the husband’s law practice even though there was evidence of some potential personal goodwill left in the value determined by the lower court. The Supreme Court also affirmed the wife’s expert’s determination of the husband’s income for maintenance purposes. Note that, per the court, “decisions of a three-justice panel are not to be considered as precedent before any tribunal.”
Vermont Supreme Court Affirms Value of Husband’s Law Practice, Declines to Eliminate Personal Goodwill, Affirms Determination of Husband’s Income
In this Vermont divorce case, the Supreme Court affirmed the value of the husband’s law practice even though there was evidence of some potential personal goodwill left in the value determined by the lower court. The Supreme Court also affirmed the wife’s expert’s determination of the husband’s income for maintenance purposes. Note that, per the court, “decisions of a three-justice panel are not to be considered as precedent before any tribunal.”
American Business Appraisers and BVR Annual Key Issues Update
Every year American Business Appraisers brings together experts from across the country for a frank and practical discussion of the issues impacting business valuation. This year, everyone is invited to four great sessions. Get a current update on the SBA Paycheck Protection Program and the forgiveness application. Adam Rosenfield gives an overview of what the most recent changes to the program are and how that affects clients/future clients. Get guidance on how the loan and ...
Fair Value Measurements Amid the Covid-19 Crisis
Reporting entities in recent years generally benefited from a growing economy, which may have allowed auditors to gain comfort with fair value measurements for financial reporting purposes with relatively less documentation. The disruption to global economic activity and financial markets suggest that a business as usual approach may no longer apply to these same fair value measurements. Consequently, reporting entities can expect fair value measurements to receive greater scrutiny from their auditors and a heighted ...
In Allocation Dispute Related to § 363 Sale, Bankruptcy Court Bridges Experts’ Value Gaps
Bankruptcy court performs allocation analysis to divide proceeds from section 363 asset sale between two competing lenders, finding debtor’s intellectual property is most valuable asset; court notes that, at time of sale, debtor was neither healthy going concern nor subject of forced liquidation.
In re Aerogroup International, Inc.
Bankruptcy court performs allocation analysis to divide proceeds from section 363 asset sale between two competing lenders, finding debtor’s intellectual property is most valuable asset; court notes that, at time of sale, debtor was neither healthy going concern nor subject of forced liquidation.
South Carolina Supreme Court Makes New Law on Business Goodwill
In a first, state high court “cautiously” decides enterprise goodwill is marital property subject to equitable division and affirms that personal goodwill is not; court rejects claim that only professionals can develop personal goodwill in a business.
Court Declines to Attribute Commercial Goodwill to Solo Practice
Appeals court affirms trial court’s ruling finding that, without noncompete from owner-spouse, under FMV standard, financial advisor’s solo practice fetches only net book value of its tangible assets; most of value lies in owner-spouse’s personal goodwill ...
Appraiser Lacks Necessary Valuation Expertise, Dissent Says
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Appraiser Lacks Necessary Valuation Expertise, Dissent Says
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Moore v. Moore
In a first, state high court “cautiously” decides enterprise goodwill is marital property subject to equitable division and affirms that personal goodwill is not; court rejects claim that only professionals can develop personal goodwill in a business.
K.T. v. M.T.
Appeals court affirms trial court’s ruling finding that, without noncompete from owner-spouse, under FMV standard, financial advisor’s solo practice fetches only net book value of its tangible assets; most of value lies in owner-spouse’s personal goodwill ...
Shaffer v. Visaggio’s, Inc. (I)
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Shaffer v. Visaggio’s, Inc. (II)
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Tax Court Tacitly Approves of IRS Solvency Assessment
In transferee liability case, solvency experts use gamut of valuation methods to establish when subject became insolvent; Tax Court does not endorse any one approach but appears to give nod to IRS market-based solvency analysis.
Kardash v. Commissioner (I)
In transferee liability case, solvency experts use gamut of valuation methods to establish when subject became insolvent; Tax Court does not endorse any one approach but appears to give nod to IRS market-based solvency analysis.
Valuations Bolster IRS’s Transferee Liability Claim
In transferee liability case, Tax Court finds IRS proved petitioner was liable for causing company’s fraudulent asset transfers and benefitted from intermediary company’s fraudulent transfer; valuations showed company was insolvent at time of transfers.
Cullifer v. Commissioner
In transferee liability case, Tax Court finds IRS proved petitioner was liable for causing company’s fraudulent asset transfers and benefitted from intermediary company’s fraudulent transfer; valuations showed company was insolvent at time of transfers.
Personal Goodwill Excluded, Accounts Receivable Included in Professional Practice in Illinois Marital Dissolution Case
The issue in this marital dissolution was the value of husband’s dental practice and whether personal goodwill and accounts receivable should be included in that value.
Schneider v. Schneider
The issue in this marital dissolution was the value of husband’s dental practice and whether personal goodwill and accounts receivable should be included in that value.
Valuation Based on Pricing Formula in Buy-Sell Agreement Upheld
Husband was a part owner of Pingree & Watterworth PA, an orthodontic practice.
In re the Marriage of Watterworth
Issue is whether court erred in valuing orthodontic practice based on formula in buy-sell agreement.
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.
Private stock as collateral
Congratulations on another wonderful book, Business Valuation Discounts and Premiums. As I was reading the book, it occurred to me to ask my son-in-law what his bank would loan to a pr ...
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.