January 17, 2024 | Court Rulings, Valuations
ES NPA Holding, LLC v. Comm’r, T.C. Memo 2023-55 The Tax Court ruled that the Class C units were a profits interest because, applying the fair market value of the LLC at the time of receipt, the partner would not receive any proceeds from a liquidation at that time. Any proceeds in excess of fair Continue Reading »
January 3, 2024 | Court Rulings, Valuations
In re Marriage of Bainbridge, 2023 In this case, Troy Bainbridge appealed the decree dissolving his marriage to Amanda Bainbridge. The appellate court did not err in its award of spousal support and determined that the value of the husband’s company was proper because it found the wife’s expert persuasive. The judgment of the trial Continue Reading »
December 20, 2023 | Court Rulings, Valuations
Lamm v. Preston, 2023 This was a tip of the iceberg Idaho Supreme Court decision on a very complex divorce case. This particular decision related to the magistrate court’s order, upheld by the district court, as to the fair market value of one of the parties’ business, Black Sage Acquisition LLC. The magistrate court determined Continue Reading »
December 6, 2023 | Court Rulings, Valuations
LCT Capital, LLC v. NGL Energy Partners LP This case dealt with motions related to an ongoing case in the court. The court offered both orders and opinions to resolve the issues at hand. The plaintiff had a Daubert motion to exclude the opinions of the defendant’s rebuttal expert, Lori Lancaster, and the defendant’s Daubert Continue Reading »
November 22, 2023 | Court Rulings, Valuations
In re Navidea Biopharmaceuticals Litig. A pharmaceuticals company, Navidea, sued its former CEO, Michael Goldberg, for, among other things, breach of contract and for a declaratory judgment establishing the contractual rights and obligations of the parties. These issues related to an agreement reached between the parties in settlement of their dispute. This resulted in counterclaims Continue Reading »
November 8, 2023 | Court Rulings, Valuations
In re Trapp, 2022 IL App The primary issue, for valuation purposes, of this Illinois appeal of a divorce decree was the appeal court’s affirmation of the trial court’s decision to accept the valuation of the husband’s business valuation expert, Neil Gerber, as to the value of Trapp Properties Inc. Trapp Properties’ primary assets were Continue Reading »
October 24, 2023 | Court Rulings, Valuations
Brooks v. Comm’r The IRS (respondent) issued a notice of deficiency to Kenneth M. Brooks and Anita Wolke Brooks (petitioners) in which the respondent disallowed carryover charitable contribution deductions relating to the petitioners’ interest in the Kenneth Brooks and Anita Wolke Brooks Family LLC’s noncash charitable contribution of a conservation easement. The questions were whether Continue Reading »
October 11, 2023 | Court Rulings, Valuations
Walsh v. Preston, 2022 Background. On Dec. 30, 2014, the plaintiff, Walsh (Secretary of Labor), filed this action pursuant to ERISA against the defendants. The complaint alleged the following: (1) breach of fiduciary duties; (2) engaging in prohibited transactions; and (3) co-liability of defendants. “The Secretary’s claims relate to two (2) separate transactions between Robert Continue Reading »
September 27, 2023 | Court Rulings, Valuations
Brown v. Brown, 2022 In this Mississippi divorce case, the appellate court en banc reversed in part and remanded in part, asking the trial court to determine whether certain items were marital property and determine the values for certain marital properties so a proper distribution of marital property can be made. Included was a used-car Continue Reading »
September 13, 2023 | Court Rulings, Valuations
Chase v. Chase, 2022 On appeal, the husband asked the court to review whether the wife needed alimony given the assets she otherwise received in the equitable distribution and her earning capacity as a pharmacist, whether an award of rehabilitative alimony and alimony in futuro by the trial court is appropriate, and whether the trial Continue Reading »