Valuation/Lit. sup./Fraud/M&A

Showing 33–48 of 1557 results

  • Market approach: Don’t compare apples to oranges

    May / June 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 427

    Abstract: Under the market approach, the value of a business is derived from comparisons between the subject company and transactions involving similar businesses. This article lists factors to consider when selecting “comparables” and explains how the availability of closely tied comparables can affect an expert’s analysis. Heck v. Commissioner, T.C. Memo. 2002-34.

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  • M&A due diligence – Buyers should exercise caution when relying on financial statements

    May / June 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 626

    Abstract: Comprehensive due diligence is an essential part of acquiring a business. But it can be a daunting task — especially for inexperienced buyers. This article explains how financial professionals can help evaluate historical and prospective financial statements, identify potential hidden liabilities and misrepresentations, and prepare independent forecasts and projections. This information is critical when determining the optimal offer price and deal terms.

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  • Valuing collateral in bankruptcy

    May / June 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 663

    Abstract: A recent decision from the U.S. Court of Appeals for the Second Circuit provides a useful primer on how to value collateral for bankruptcy purposes. This article summarizes this complex case, which demonstrates the leeway given to bankruptcy when valuing collateral and the importance of providing reasonable, well-supported valuation analyses and methods. In re Sears Holdings Corporation, 51 F. 4th 53 (2nd Cir. 2022).

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  • Court rejects valuation based on unsustainable past earnings

    May / June 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 844

    Abstract: In a recent divorce case, an Arizona court of appeals vacated a trial court’s ruling regarding the value of a 25% business interest owned by the wife. This article summarizes the case. A sidebar highlights another Arizona appellate court decision in which a calculation of value was accepted without a full opinion of value. In re Riddle, No. 1 CA-CV 21-0249 FC (Ariz. App. April 5, 2022). Mikalacki v. Rubezic, No. 1 CA-CV 21-0483 FC (Ariz. App. October 18, 2022).

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  • Proposed FRE amendments may affect your expert witnesses

    March / April 2023
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 407

    Abstract: Proposed amendments to the Federal Rules of Evidence (FRE), expected to take effect in late 2023, may affect the admissibility of expert testimony. This article discusses the two key changes the amendments, if approved by the U.S. Supreme Court, would make and the impact they would have on the use of financial experts in federal cases.

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  • How to estimate lost profits for a start-up business

    March / April 2023
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 594

    Abstract: The usual methods of calculating lost profits may fall short when a start-up is involved. This article explains alternative methods of assessing damages that experts use for companies without an established track record.

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  • Redleaf v. Commissioner – Cash payments are property settlement, not deductible alimony

    March / April 2023
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 613

    Abstract: Pursuant to a marital termination agreement from 2008, the husband in Redleaf v. Commissioner deducted $51 million in deferred cash payments to his ex-wife. The U.S. Court of Appeals for the Eighth Circuit Court affirmed that the payments weren’t deductible as alimony under the tax law that was in effect at the time the agreement was executed. This article summarizes the case and highlights the importance of considering tax issues when executing a divorce or settlement agreement. Redleaf v. Commissioner, 43 F.4th 825 (8th Cir. 2022).

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  • DLOM dilemma – Defendants’ bad-faith behavior precluded marketability discount

    March / April 2023
    Newsletter: Viewpoint on Value

    Price: $225.00, Subscriber Price: $157.50

    Word count: 898

    Abstract: In Sipko v. Koger, Inc., the New Jersey Supreme Court found that a discount for lack of marketability (DLOM) was inappropriate, noting the “defendants’ bad-faith behavior throughout this 15-year litigation.” This article summarizes this family business drama. A sidebar discusses the issue of applying DLOMs to controlling interests in private businesses to reflect the time and effort needed to convert them to cash. Sipko v. Koger, Inc., 276 A.3d 160 (N.J. Sup. Ct. 2022).

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  • Proposed FRE amendments may affect your expert witnesses

    March / April 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 407

    Abstract: Proposed amendments to the Federal Rules of Evidence (FRE), expected to take effect in late 2023, may affect the admissibility of expert testimony. This article discusses the two key changes the amendments, if approved by the U.S. Supreme Court, would make and the impact they would have on the use of financial experts in federal cases.

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  • How to estimate lost profits for a start-up business

    March / April 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 594

    Abstract: The usual methods of calculating lost profits may fall short when a start-up is involved. This article explains alternative methods of assessing damages that experts use for companies without an established track record.

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  • Redleaf v. Commissioner – Cash payments are property settlement, not deductible alimony

    March / April 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 613

    Abstract: Pursuant to a marital termination agreement from 2008, the husband in Redleaf v. Commissioner deducted $51 million in deferred cash payments to his ex-wife. The U.S. Court of Appeals for the Eighth Circuit Court affirmed that the payments weren’t deductible as alimony under the tax law that was in effect at the time the agreement was executed. This article summarizes the case and highlights the importance of considering tax issues when executing a divorce or settlement agreement. Redleaf v. Commissioner, 43 F.4th 825 (8th Cir. 2022).

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  • DLOM dilemma – Defendants’ bad-faith behavior precluded marketability discount

    March / April 2023
    Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report

    Price: $225.00, Subscriber Price: $157.50

    Word count: 898

    Abstract: In Sipko v. Koger, Inc., the New Jersey Supreme Court found that a discount for lack of marketability (DLOM) was inappropriate, noting the “defendants’ bad-faith behavior throughout this 15-year litigation.” This article summarizes this family business drama. A sidebar discusses the issue of applying DLOMs to controlling interests in private businesses to reflect the time and effort needed to convert them to cash. Sipko v. Koger, Inc., 276 A.3d 160 (N.J. Sup. Ct. 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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