Federal Appellate Court, 4th District, Affirms District Court as to Violation of ERISA but Allows Offset of Debt Forgiveness in Determining Damages

by Royer Advisors | Dec 11, 2024 | Court Rulings, Debt & Financing

Walsh v. Vinoskey This case was an appeal from the well-publicized district court case regarding the violation of ERISA regarding the sale of stock by the company owner to a company ESOP. The appellate court affirmed that the district court did not err, finding that...

A Louisiana Appeals Court Decides That the Trial Court Abused Its Discretion in Choosing the Method of Determining Damages

by Royer Advisors | Dec 11, 2024 | Court Rulings

Dettenhaim Farms, Inc. v. Greenpoint Ag, LLC This decision of the appeal court of Louisiana took up the alleged damages of the soybean crop and the trial court’s findings on the matter. The appeal court found that the trial court abused its discretion when it chose an...

5th Circuit Court of Appeals Upholds Tax Court Finding That Taxpayer Gifted a Percentage of Partnership Interests and Not a Fixed Amount

by Royer Advisors | Dec 11, 2024 | Court Rulings, Tax Planning

Nelson v Commr., 2021 “Mary P. Nelson and James C. Nelson appeal the Tax Court’s denial of their petition for a redetermination of a deficiency of gift tax issued by the commissioner of Internal Revenue for the tax years 2008 and 2009. For the following reasons, we...

Louisiana Court of Appeals Disallows a Discount for Trapped-In Capital Gains Taxes and a Reduction in Receivables for Collectability

by Royer Advisors | Dec 11, 2024 | Court Rulings

ShopRite, Inc. v. Gardiner The Court of Appeals was asked to review the trial court’s determinations of fair value for the shares of stock of a withdrawing shareholder. Shawne Gardiner was a withdrawing shareholder in ShopRite Inc. (3.8% interest) and Tobacco Plus...

The Jury Verdict Cannot Stand Because It Was Based on an Expert’s Incompetent Report, and a New Trial Is Ordered

by Royer Advisors | Dec 11, 2024 | Court Rulings

State Route 00700, Section 21H v. Bentleyville Garden Inn, Inc. The jury’s verdict in the eminent domain trial could not stand because the jury relied solely on the valuation of the PennDOT’s expert, “which was incompetent.” He limited the damages to the partial...

The Nebraska District Court Is Reversed in Its Determination of Fair Value Since It Applied Discounts, Determined Going Concerned as the Premise of Value, and Allowed Tax Liability for Deferred Tax

by Royer Advisors | Dec 11, 2024 | Court Rulings

Bohac v. Benes Serv. Co. In this case, the Supreme Court of Nebraska affirmed, vacated in part, and reversed and remanded with directions. The holdings of the Supreme Court included: (1) The district court erred in its determination of fair value (FV) in allowing...