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...

In a New York Business Divorce, a Petition for Dissolution Triggers Buy-Sell Agreements

by Royer Advisors | Dec 11, 2024 | Court Rulings

Collins v. Tabs Motors of Valley Stream Corp. Tabs Motors of Valley Stream Corp. (Tabs), respondent and third-party plaintiff, sought to enforce a shareholders agreement through specific performance. This decision addressed only the counterclaim of Tabs against the...

Court Grants Insurance Company’s Motion to Dismiss Plaintiff’s Complaint That It Suffered Covered Loss of Income Due to COVID-19 Restrictions

by Royer Advisors | Dec 11, 2024 | Court Rulings

Equity Planning Corp. v. Westfield Ins. Co. Case Digest  COVID-19-related damages cases are making their way through state and federal courts. Plaintiffs typically are businesses that have suffered economic losses because of various mandatory shutdowns. They file...