Court Says Daubert’s ‘Gatekeeper’ Role Favors Inclusion, Not Exclusion

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

Ferraro v. Convercent, Inc. This Daubert case illustrates how courts may interpret the role of “gatekeeper” differently. The dispute featured a company that provided software-based services. The defendants claimed the plaintiff’s expert was unqualified because he...

‘Mixed-Purpose’ Valuation Is Discoverable, New York Court Rules

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

Noven Pharmaceuticals v. Novartis Pharmaceuticals When it comes to document discovery, the “why and “when” matter greatly, as a recent New York ruling centering on a valuation report makes clear. The issue was whether a valuation the defendant had commissioned months...

Tax Court’s Exelon Ruling, Turning on Compromised Appraisals, Withstands Appeal

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

Exelon Corp. v. Commissioner In 2016, Tax Court Judge Laro ruled on the legitimacy of a series of Section 1031 transactions involving Exelon, an Illinois-based energy giant. The court agreed with the Internal Revenue Service that Exelon was liable for a deficiency of...

Analysis Holds Up in Divorce Litigation

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

Hultz v. Kuhn A Maryland divorce case illustrates the difficulties an appraiser charged with valuing a small company in the divorce context may face and how he or she may prevail in court. The wife was the sole shareholder in a tree services business. The issue at...

Appeals Court Upholds Grocery Store Buyout Ruling and Fair Value Determination

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

Lund v. Lund A protracted Minnesota buyout dispute involving the heirs to a local grocery store empire may have reached the end. The state appeals court affirmed most of the district court’s rulings, including the buyout order and fair value determination. The...

Eleventh Circuit Affirms Tax Court’s Valuation of Trust’s Interest in LLC

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

Estate of Koons v. Commissioner (Koons II)  The 11th Circuit Court of Appeals upheld a 2013 Tax Court ruling in an estate and generation-skipping tax case that centered on the fair market value of a revocable trust’s interest in an LLC. The crux of the valuation was...