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Can you recycle a valuation? Court rules report for divorce can’t be reused for bankruptcy


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Abstract: Every valuation report is created as of a specific time and for a specific purpose, which may affect the standard of value an expert uses. That’s why a single valuation report can’t necessarily be recycled for multiple purposes without an expert’s express written consent. This article describes a recent bankruptcy case in which the court decided that a valuation report prepared for the business owner’s divorce proceeding couldn’t be used to confirm a bankruptcy repayment plan. A sidebar shows how courts may use the buyout provisions of a shareholders’ agreement to establish the value of a business interest. In re Cole, Bankr. E.D. Va. No. 15-30979-KLP, March 24, 2016

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