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...

Expert’s Failure to Review Debtor’s Reorganization Plan Results in ‘Defective’ Hotel Appraisals

by Royer Advisors | Dec 11, 2024 | Court Rulings, Uncategorized, Valuations

The key issue in the bankruptcy proceedings involving a debtor entity that owned two hotels was the value of the hotels, which would control the amount of the main creditor’s secured and unsecured claims. The valuation date was October 2020, a point when the effect of...

Court Declines Motion to Dismiss Claim of Coverage for Loss of Income but dismisses the Claim of Coverage Under the Civil Authority Provision

by Royer Advisors | Dec 11, 2024 | Court Rulings, Uncategorized, Valuations

Derek Scott Williams PLLC v. Cincinnati Ins. Co. Summary In this business interruption case resulting from mandatory shutdowns to control COVID-19, the court declined to grant a motion to dismiss the claim of the plaintiff as to coverage for loss of business income...

Tax Court Allows for ‘Slight’ Discount for Lack of Control for Majority Interests in Real Estate Holding

by Royer Advisors | Dec 11, 2024 | Court Rulings

Companies Estate of Warne v. Commissioner In a gift and estate tax dispute, the estate and Internal Revenue Service agreed to apply discounts for lack of control and marketability to the majority interests in several real estate holding companies. The U.S. Tax Court...

Indiana Supreme Court Rejects Blanket Rule Against Discounts in Compulsory, Closed-Market Share Buyback

by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations

Hartman v. BigInch Fabricators & Construction Holding Co., Inc In 2020, the Indiana Court of Appeals overturned the trial court and found for the selling shareholder when it decided discounts were inappropriate in any compulsory, closed-market sale. The court did...