Expert / Valuation & Litigation Concepts
Showing 113–128 of 145 results
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For What It’s Worth: Valuation in the Courts – FAMILY’s FLP foibles serve as a cautionary tale
Summer 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: If there’s a silver lining to a gloomy economy, it may be the estate planning opportunities that arise. Currently, many wealthy individuals are creating family limited partnerships (FLPs) to take advantage of lower market values and slowed transaction activity. But they must be structured carefully to avoid IRS challenge, as one family found out in Estate of Thelma G. Hurford v. Commissioner.
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4 keys to authenticating electronically stored information
Summer 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: Electronically stored information (ESI) plays a prominent role in today’s litigation but, like any evidence, it must meet the authentication threshold before it will be admitted at trial. Qualified experts can apply many techno¬logical tools to establish the authenticity of ESI. It’s important, however, to understand the limits of such tools, whether arguing for or against the authenticity. This article provides an overview of four tools that can prove critical to ESI authentication.
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Valuation methodology – The market approach proves informative, challenging
Summer 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 709
Abstract: When helping to take a business to market (or helping someone buy a business), appraisers often employ the market approach. Unlike the other two primary valuation methods, the income and asset approaches, the market approach looks to similar businesses to estimate a company’s fair market value. This article reviews the market approach as well as two variations on it, the transaction method and the guideline public company method.
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When prevention fails – Jointly published guide details fraud detection techniques
Summer 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 960
Abstract: No organization can ever completely eliminate the risk of fraud in its business — even when preventive measures have been put in place — which makes timely detection crucial. Managing the Business Risk of Fraud: A Practical Guide, jointly published by several industry associations, offers valuable information on the detection techniques a fraud expert might employ. This article discusses some of those techniques, such as whistleblower hotlines, process controls, documentation methods and several proactive measures. A sidebar lists 10 criteria for evaluating fraud detection techniques.
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For What It’s Worth: Valuation in the Courts – Recent FLP case illustrates IRS attack strategies
Spring 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 578
Abstract: For attorneys, an in-depth understanding of recent case law regarding family limited partnerships (FLPs) is a prerequisite to helping clients with these estate planning vehicles. One recent case, Holman v. Commissioner, shows a few strategies the IRS may use to challenge an FLP.
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ACFE study quantifies employee fraud
Spring 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 535
Abstract: The Association of Certified Fraud Examiners’ latest Report to the Nation on Occupational Fraud and Abuse estimates that U.S. organizations lost about 7% of their annual revenues — or $994 billion — to fraud in 2008. And the most costly form of fraud involves misstated financial statements. Understanding the most common types of fraud and their costs can make it easier to identify these costly schemes. This article details some of the statistics.
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What standard should be used for divorce valuations? Fair market value vs. fair value
Spring 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 956
Abstract: Courts have typically applied the fair market value (FMV) standard to estimate the value of businesses in divorce proceedings. Recently, however, attorneys for nonowner spouses have been increasingly requesting the use of the fair value (FV) standard. This article looks at a variety of cases over the last couple of decades. The arguments are worth noting, as the monetary difference between FMV and FV — for both owner and nonowner spouses — can prove substantial.
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E-discovery: Avoiding inadvertent disclosure
Spring 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 307
Abstract: Electronic evidence has assumed a prominent role in discovery. In turn, the massive amounts of data in such evidence have increased the risk of inadvertent disclosure of privileged materials. But savvy attorneys can use technology to screen evidence for potentially privileged materials. This short article offers tips.
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Preparing for the unexpected – Buy-sell agreements can steady businesses in uncertain times
Spring 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 670
Abstract: To guard against the negative consequences that could arise from events such as the death or disability of a partner, the divorce of a family business owner, or a shareholder dispute, companies need to be prepared. A buy-sell agreement can steady a business in uncertain times, and valuation considerations play an integral role in effective agreements. This is why an appraiser is needed to address areas such as insurance coverage, buyout terms, and choosing the correct standard of value. A qualified appraiser also knows how to avoid simplistic or outdated formulas in determining the appropriate value.
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Proving the alter ego case
Winter 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 429
Abstract: Faced with valid claims against insolvent or cash-poor defendants, plaintiffs increasingly are arguing that these defendants represent the “alter ego” of their financially stronger parent companies. Alter ego litigation generally is sought to breach a defendant’s corporate structure and obtain access to the financial resources of its subsidiaries or individual shareholders. This article explains how financial experts can help both plaintiffs and defendants build their arguments in such cases.
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Joint valuations remove bias from the equation
Winter 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 395
Abstract: As this short article discusses, joint valuations can — in some circumstances — benefit both parties to a business valuation dispute. Conducted correctly, they can expedite the valuation process, relieve stress and reduce costs.
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When is a discount for lack of marketability warranted?
Winter 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 562
Abstract: Whether for purposes of buy-sell agreements, shareholder litigation, marital dissolutions or taxes, business valuations frequently require the application of a discount for lack of marketability (DLOM). This is particularly true when valuing a minority interest. This article outlines the 10 factors Judge David Laro of the U.S. Tax Court has enumerated as important when determining a DLOM and the three general categories they fall into.
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A complex process made easier – Cox provides stock valuation guidance
Winter 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 856
Abstract: Even where statutes directly address valuation of a company’s stock for shareholder litigation, the task is complicated. But the 11th Circuit Court of Appeals opinion in Cox Enterprises, Inc. v. News-Journal Corp. illustrates and provides guidance on issues relevant to this topic. This article summarizes the facts of the case and explains why confusion remains over the difference between fair value and fair market value.
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Fraud at the top – Executive schemes can destroy a company
Winter 2009
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 769
Abstract: Fraud schemes committed by executives are among the most costly, so spotting the signs of executive fraud can literally save a company. This article highlights some of the signs executive fraud is occurring, such as an employee’s lack of cooperation with audits and an extravagant lifestyle. It encourages businesses to implement strong internal controls and make it difficult for high-ranking employees to override them.
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Calculating losses for new or never-launched businesses
Fall 2008
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 460
Abstract: Lost profits are a common form of damages in business litigation, and most damages experts are comfortable calculating them. But establishing lost profits when the plaintiff is a new or never-launched company with little or no historical financial data can prove tricky. Experts might be able to apply industry growth projections to company data or, if company data is sparse, base estimates on models and studies of new-product lifecycles.
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Failure to obtain valuation undermines fraud claim
Fall 2008
Newsletter: Expert / Valuation & Litigation Concepts
Price: $225.00, Subscriber Price: $157.50
Word count: 352
Abstract: This short article summarizes fraud case Lusins v. Cohen and explains why the decision reinforces the idea that buy-sell agreements must be independently appraised.