Complicated as the year 2020 was, it was not boring. The past year offered a wealth of lawsuits dealing with business valuation and economic damages issues. The list below shows our Top 10. Some of the cases are notable...
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Last year, in a compelled buyout, the Court of Appeals sided with the departing minority shareholder when it found discounts did not apply in a closed-market sale. In a freshly minted decision, the Indiana Supreme Court reversed the Court...
In the long-running litigation between the estate of the late megastar Michael Jackson and the Internal Revenue Service, the U.S. Tax Court recently issued its opinion on the value of Jackson’s image and likeness, as well as the value...
Although the U.S. Tax Court recently handed the Michael Jackson estate a decisive victory regarding the estate’s tax liability, the court did not side with the estate on tax affecting, an issue that has preoccupied valuators, many of whom are proponents...
On March 19, Caesars Entertainment joined the long list of businesses that have filed lawsuits against their insurance companies for refusing to pay business interruption losses stemming from COVID-19-related government shutdowns of economies across the nation and world. Whether… Click here...
When Michael Jackson died, his image and likeness was besmirched, and yet, once competent executors took charge, they were able to make a lot of money for the estate in the immediate post-death years. The issue was to what...
Great Am. Fid. Ins. Co. v. Stout Risius Ross, Inc., 2021 U.S. Dist. LEXIS 158553; 2021 WL 3772876 (Aug. 23, 2021) The Department of Labor (DOL) has a long history of challenging transactions involving company owners selling some or all...
Individuals who own businesses frequently need to have the business valued. Sometimes it is for a specific purpose, such as for postsale retirement planning; other times, it might be because of estate tax planning, for the acquisition of shares...
Many CPAs may be unaware that the AICPA is now offering its Accredited Business Valuation (ABV) credential to non-CPAs. The decision was made by the AICPA Council behind closed doors on May 22, 2018 (http://bit.ly/2NV6T31), with no prior communication...
Larchick v. Pollock, 2021 Ariz. App. Unpub. LEXIS 895; 2021 WL 3929954 (Sept. 2, 2021) Recently, as reported in the BVWire, a court in Arizona rejected the use of a calculation report, but an appellate court ruled it was...