Advocate's Edge / Litigation Support
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Showing 1–16 of 372 results
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To discount or not to discount? Court rules discounts are inappropriate in forced buyout case
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: New Jersey law allows discounts for lack of control and lack of marketability in certain fair value situations. But the propriety of these discounts depends on many factors, including what’s fair and equitable for the circumstances. This article explains why the court decided against applying discounts when valuing the interests of dissociated minority partners in a shopping mall. Robertson v. Hyde Park Mall, No. 13370-13 (N.J. Super. May 19, 2022).
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M&A advisor: How to protect deals from targeted ransomware attacks
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 538
Abstract: Merger and acquisition volume is expected to rebound to pre-pandemic levels in 2023, according to a recent survey by Citizens Bank. The survey also found that sellers are increasingly seeking guidance from financial professionals to maximize the price. However, there’s a new reason for sellers to seek professional advice — to lower the risk of ransomware attacks. This article explains how these frauds are perpetrated and provides prevention tips.
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Secrets to a successful turnaround strategy
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: The COVID-19 pandemic took a toll on many businesses. However, companies that were able to hunker down and save cash during the economic downturn may be in a position to buy competitors that are in financial distress. But acquiring a troubled target can also pose greater risks than buying a financially sound business. This article discusses ways a valuation professional can help reduce such risks.
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Furrer v Siegel & Rouhana, LLC – Lack of buy-sell agreement leads to lengthy litigation
May / June 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 886
Abstract: When small businesses and professional practices operate without an effective operating or buy-sell agreement, costly disputes may arise when the owners part ways. This article summarizes a recent case involving a law firm that drives this point home. A sidebar provides best practices when drafting valuation provisions of buy-sell agreements. Furrer v Siegel & Rouhana, LLC, No. 13370-13 (Md. App. Oct 17, 2022).
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How do value conclusions and value calculations differ?
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 421
Abstract: The value of a business is relevant in a wide variety of legal contexts, including divorces, shareholder disputes, mergers, bankruptcy and tax planning. Understanding the different services valuators offer can facilitate informed decision-making. This article compares and contrasts two common types of valuation services: calculations of value and conclusions of value.
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Detecting fraud with proactive measures
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 666
Abstract: Each year, businesses lose about 5% of revenue to fraud, according to Occupational Fraud 2022: A Report to the Nations. A key takeaway from the biennial report is that active detection methods are far more effective than passive methods in reducing fraud loss and duration. This article delves into the details of this finding and provides other key takeaways from the report.
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Estate of Levine – Taxpayer wins on value of split-dollar arrangement
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 526
Abstract: The U.S. Tax Court recently rejected the IRS’s attempt to essentially triple the value of a split-dollar life insurance arrangement in a decedent’s taxable estate. This article summarizes this case and highlights the importance of careful drafting in estate plans. Estate of Levine, No. 13370-13 (Tax Ct. Feb. 28, 2022).
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IRS sheds light on subsequent events and recycled valuation reports
March / April 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 935
Abstract: A recent IRS Chief Counsel Advice memorandum offers valuable insight into the IRS’s perspective on whether subsequent events may be considered when estimating the fair market value of a private business interest for gift tax purposes. The memorandum — which can’t be used or cited as legal precedent — also addresses the issue of re-using previously issued valuations for gift and estate tax purposes. This article summarizes the key takeaways from this unofficial guidance. A sidebar explains when valuators may factor subsequent events into their analyses.
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How to apply Panduit factors in patent infringement cases
January / February 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 416
Abstract: The U.S. District Court for the Eastern District of Tennessee recently denied a defendant’s attempt to exclude the opposing expert’s testimony. This article summarizes this ruling, which highlights how the Panduit factors are used to determine lost profit damages in patent infringement cases. Xodus Medical, Inc. v. Prime Medical, LLC, No. 18-cv-00414 (E.D. Tenn. Dec. 16, 2021). Panduit Corp. v. Stahlin Bros. Fibre Works, Inc., 575 F.2d 1152, 197 USPQ 726 (6th Cir.1978).
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Forced buyout: Court opts for modified liquidation value
January / February 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 545
Abstract: The Michigan Court of Appeals has issued a ruling in a 15-year legal battle over a forced buyout that’s bounced back and forth between the trial and appellate courts. This article discusses the reasons the appellate court affirmed the “modified liquidation value” that the lower court assigned to the family-owned holding company — even though the valuation didn’t account for certain assets and included liquidation expenses. Pitsch v. Pitsch Holding Co., No. 356184 (Mich. App. May 12, 2022).
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Factoring external market conditions into a valuation
January / February 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 619
Abstract: Outside forces — such as government regulation, global competition, interest rates, labor supply and tax policy — may influence an organization’s estimated value. This article discusses how valuators size up current and future economic conditions and synthesize them into a meaningful value estimate.
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In re International Supply Co. – Debtor fails insolvency tests for fraudulent transfers
January / February 2023
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 931
Abstract: Three insolvency tests are applied to determine whether a debtor’s pre-filing transfer can be rejected as fraudulent under federal bankruptcy law: the balance sheet, cash flow and adequacy of capital tests. This article summarizes a recent case that provides a primer on how financial experts apply these tests. The ruling clarifies that a debtor may be solvent under one test but ultimately be found insolvent. A sidebar explains how to avoid fraudulent transfer claims in estate planning. Stone v. Citizens Equity First Credit Union (In re Int’l Supply Co.), No. 17-08049 (Ill. Bankr. March 20, 2022).
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Use a rebuttal expert to break valuation deadlock
November / December 2022
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 413
Abstract: Financial experts use a variety of methods and inputs when valuing a business. So it’s common for two experts working in good faith to reach different conclusions. In such situations, litigating parties must find a way to resolve their differences. This article discusses how a rebuttal report can help them do just that — as well as reduce overall valuation costs.
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FRE 702 amendment would clarify expert testimony standard
November / December 2022
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 550
Abstract: Federal Rule of Evidence (FRE) 702 is expected to soon be amended. If approved, the changes would take effect on December 1, 2023. This article describes two critical amendments to the rule that aim to address the misapplication of the standards for admitting expert testimony by many federal courts.
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Hiring an expert to help prove — or refute — accountant liability
November / December 2022
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: In lawsuits involving business failures, it’s common for shareholders and other plaintiffs to name the business’s accountants or auditors as defendants. An accountant’s liability depends on several factors, but it’s first important to know the applicable professional standard he or she uses. This article discusses those standards, along with the accountant’s level of responsibility for the financial statements.
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Help wanted: Qualified appraisers – Do you need a business valuation for year-end gifts of stock?
November / December 2022
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 888
Abstract: The combination of current tax laws and a rocky economy makes this an advantageous time for many business owners to gift shares of closely held stock to family members. This article explains the benefits stock gifts can provide to both the givers and recipients and why a reliable valuation from a qualified appraiser is essential. A sidebar discusses how GRATs can be used to transfer interests in a family business.