Connecticut Supreme Court Clarifies Double-Counting Rule
Oudheusden v. Oudheusden The Connecticut Supreme Court clarified this jurisdiction’s approach to double counting (or double-dipping in a recent decision). The court acknowledged that it had never been asked to determine whether the rule against double counting applied...
Court Rejects Creditor’s Objection to Discharge Based on Debtor’s Alleged Concealment of Client List from Accounting Business Client
Case digest The case implicates section 727 of the U.S. Bankruptcy Code, which concerns a Chapter 7 debtor’s request for discharge. Objections to discharge are challenging to prove because the denial of discharge is the “death penalty” in bankruptcy. The objector has...
Expert’s Failure to Review Debtor’s Reorganization Plan Results in ‘Defective’ Hotel Appraisals
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...
7 Steps to Promote Manufacturing Safety
Workplace safety is a top concern among manufacturers. Without taking COVID-19 into account, the National Institute for Occupational Safety and Health (NIOSH) estimates that occupations within the manufacturing sector account for 5% of U.S. workers. Yet, they...
Ryan Trust v. Ryan In a bitter buyout dispute involving a thriving private family business and featuring two veteran appraisers, the NebraskaSupreme Court recently affirmed the district court’s decision to unreservedly credit the valuation testimony of the expert for...
Tax Court Allows for ‘Slight’ Discount for Lack of Control for Majority Interests in Real Estate Holding
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...
Why Cost Codes Are Critical to Construction Business Success
No matter the size of your construction business, cost codes are essential for tracking where and how you incur project costs. Although a job's overall cost will tell you what was spent and how much was made, it won't tell you why you spent the money or earned that...
Court Adopts its Own Methodology in Determining Fair Value in a Shareholder Dissent Suit
Island Light & Power Co. v. Sara Golvinveaux McGinnes Block Island Power Co. (BIPCO), founded in1925, was purchased in the 1980s by five individuals. By 2015, there were three shareholders: two doctors and the respondent, in this case, the Sara Golvinveaux...
Consider a New Approach to Meeting Your Business Real Estate Need
Where your business is located and how you use the commercial space you have can mean the difference between thriving and just limping along — or worse. That fact was brought home for many business owners during the COVID-19 pandemic when lease payments became an...
The District Court Refuses to Throw Out Experts Under Daubert Motions, Citing Differences in Admissibility and Scrutiny Under Cross-Examination
Innovation Ventures, L.L.C. v. Custom Nutrition Labs., L.L.C. This case involves a consideration of motions by both the plaintiff and the defendant to exclude the testimony of the other party’s expert witness based on Daubert and the Federal Rules of Evidence....