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...

Property Transfer Was Not Fraudulent Because Debtor Was Not Insolvent

by Royer Advisors | Dec 11, 2024 | Court Rulings

Yaquinto v. Thompson St. Capital Partners “As part of a refinancing transaction in 2014, Stone Panels Inc. (SPI) and Stone Panels Holding Corp. (Holding) jointly borrowed roughly $14 million that was immediately transferred to Thompson Street Capital Partners III, LP...

District Court Rules ‘Decisively’ Against the DOL in an ESOP Overvaluation Case

by Royer Advisors | Dec 11, 2024 | Court Rulings

Walsh v. Bowers Defendants Brian Bowers and Dexter Kubota owned all the stock in an engineering firm, Bowers & Kubota Consulting Inc. They created an ESOP to which they sold all of their stock for $40 million. The government sued, alleging that they had violated...