Oregon Appellate Court Disallows Discounts for Lack of Control and Lack of Marketability
Dipak Patel, Plaintiff-Appellant v. Siddhi Hospitality, LLC, et al. Plaintiff, Dipak Patel, was a 25% owner in defendants’ two entities, franchised hotels. Believing that his fellow LLC members were not treating him fairly, the plaintiff filed suit against the...
Malpractice Insurer Not Required to Defend Valuation Firm for Claim Alleging Securities Fraud
Great Am. Fid. Ins. Co. v. Stout Risius Ross, Inc. In this suit, the defendant (Stout) was initially sued over its valuation of the stock of a paper company in connection with the ESOP for that company. Stout demanded coverage for that suit from its malpractice...
Deciding When to Raise Your Prices…and by How Much
A price increase is sometimes unavoidable — and now might be one of those times as many businesses are dealing with cost increases, supply chain bottlenecks, and labor shortages. The key to implementing a price hike with minimal loss of customers is timing. It's hard...
Property Transfer Was Not Fraudulent Because Debtor Was Not Insolvent
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...
Court Issues Partial Summary Judgment in Favor of Party Alleging Breach of Contract
Paganelli v. Lovelace Background Parties’ agreement. The defendant, and counterclaimant, Richard Lovelace, was an estimator and project manager for Safe Environmental Corp. (the Company). He eventually became a vice president but was not involved in the finances of...
Turn Customer Complaints Into Value-Building Opportunities
Have your customers been complaining about such issues as service disruptions, back-ordered products, unreturned phone calls, curtailed business hours, and unexpected price increases? Thanks to labor shortages, rising costs, and supply chain disruptions for many...
Feast on Bigger Tax Deductions for Business Meals
Uncle Sam is helping to pick up the tab for certain business meals in 2021 and 2022. Under a Consolidated Appropriations Act (CAA) provision, the usual tax deductions for 50% of the cost of business meals is doubled to 100% for food and beverages provided by...
Court Grants Insurance Company’s Motion to Dismiss Plaintiff’s Complaint That It Suffered Covered Loss of Income Due to COVID-19 Restrictions
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...
Plaintiff Fails to Convince the Court That Physical Loss or Physical Damage Has Occurred; Virus Clause Applies and Defendant’s Motion to Dismiss Is Granted
Family Tacos, LLC v. Auto Owners Ins. Co. Summary In this business interruption case resulting from mandatory shutdowns to control COVID-19, the court grants a motion to dismiss the plaintiff’s claims. Plaintiff operates two restaurants in Ohio, which has incurred...
Are You Ready for Possible State Minimum Wage Increases?
Many employers have been raising wages substantially to maintain operations in today’s tight labor market. That's most evident in the leisure and hospitality sector, where average hourly wages rose 12% for the year ending October 2021. For many organizations, getting...