Business Valuation Resources, LLC is the premier publisher in all areas of business valuation, including divorce, tax, bankruptcy, lost profits, shareholder disputes, intellectual property, stock options, general commercial, and other related matters.
BVR locates, indexes and analyzes the cases that have won in the courtroom—and the boardroom—for the last 15 years, and we work with the best financial expert witnesses in North America.
| Featured Cases & Financial Expert News |
Can your expert admit that a business has collapsed subsequent
to the
valuation date?
Certified business appraisers are not allowed to include subsequent events
in their calculations, but Mel Abraham answered this question at the BVR/FAE Business Valuation Conference in New York City last month by recalling an
interaction he had with a California judge a few years ago. In that case,
the business had lost its largest (60%) client six months after the
valuation date, and Abraham had factored the risk of client loss into his
discount rate and DCF calculations. When the judge argued that this was a
subsequent event, Abraham agreed but countered, The loss of the client was
definitely a subsequent event, but the risk of losing the client was known
and knowable as of the date of valuation. Looking back to valuation dates,
particularly in mid-2008, you cannot include loss of revenues or other
damages that actually occurred as the result of this current economic
downturn, he added. However, conditions known as of the valuation date (like
heavy leverage, declining assets, or other high-risk indicators) could,
should, and would have been known or knowable even prior to the stock market
meltdown.
Federal Court Fashions Unique Pricing Remedy in Shareholder Oppression
Case
Kaplan v. First Hartford Corp., 2009 WL 737681 (D. Me.)(March 20, 2009)
An oppressed minority shareholder sought judicial appraisal of the First
Hartford Corporation, a company that managed and developed real estate
through several subsidiaries, with several attributes that made it unique.
Although thinly traded on the Pink Sheets financial service, First Hartford
acted more like a closely held company. Read Full Court Case Abstract
What attorneys should look for when retaining financial experts and business
valuation consultants
During his informative session, Alexandria, Louisiana-based attorney and BV insider L. Paul Hood offered
simple, yet compelling, insights on how BV experts can make themselves more
appealing to hiring attorneys, Burning
Issues Within the Appraisal Industry at the 2009 National Association of Certified Valuation Analysts (NACVA) and the Institute of Business Appraisers (IBA) Consultants Conference held in Boston last week. To put your best foot forward, Hood
suggested these characteristics as most important for successful financial
experts: Read Full Article
Are the days of the uncredentialed BV expert over?
That was just one of the many questions that U.S. Tax Court judge, the
Honorable David Laro, former national program manager of the IRS and current
IBA Executive Director Howard Lewis, and principal of the American Business
Appraisers in San Diego, Mike Eggers, deftly fended from attendees at last
week's NACVA and IBA Consultants Conference in Boston.
Read Full Article
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