BV Expert Shows How to Produce a Viable Valuation with Little Financial Data Available
Kvinta v. Kvinta BV expertise matters, as a recent Florida divorce case shows in which the parties’ experts faced the challenge of valuing a company that once operated abroad but was sold a decade before the divorce trial. Only the owner spouse’s experienced valuation...
Tax Rules that Apply to Home-to-Rental Conversions
A recent report by Apartment Guide found that Maine had the 3rd largest increase in rent in the country last year. With Portland and the surrounding area experiencing a great deal of growth and development, that may not come as a surprise to many. If you own your home...
Novel Issue of Law Raised in ESOP Case That Pits Trustee Against Appraiser
Remy v. Lubbock Nat’l Bank A fairly routine ESOP case that is being litigated in the 4th Circuit has raised a novel legal issue in this jurisdiction as to the financial liability of co-fiduciaries and nonfiduciaries, including the ESOP appraiser. The plaintiffs in the...
Court Finds Plaintiff Fails to Show ESOP Transaction Caused Injury
Lee v. Argent Trust Co. The private plaintiff alleged a number of violations by the ESOP trustee and other defendants. The plaintiff maintained the trustee participated in a prohibited transaction and breached its fiduciary duties. By the plaintiff’s calculation, the...
Deal Price Prevails in Yet Another Delaware Statutory Appraisal Ruling
Stillwater Mining Co. Nine days after his ruling in Columbia Pipeline, Vice Chancellor Laster again found the deal price was the most reliable indicator of fair value in a statutory appraisal case involving a publicly traded mining company. The Court of Chancery’s...
Five Payroll Tax Developments for 2020
If you’re a business owner here in Maine, the new year comes with new payroll rules. Here are five of the most significant changes for 2020: 1. Significant revisions have been made to Form W-4 The IRS has redesigned Form W-4 for this year to reflect changes from the...
Parties Fight Over Notes-Containing Expert Report: Draft or Final Version?
County of Maricopa v. Office Depot Inc. Several sessions at the recent AICPA conference in Las Vegas highlighted the importance of expert discovery in litigation and noted that draft reports continue to be a hot-button issue. A recent contract dispute, litigated in...
Bad News About Self-Created Intangibles
Maine has seen an increase in startups and technology-based companies, especially around the Portland area. Many — if not most — went through a process that included designs, models and patents that helped bring their respective idea to market. For a long time, those...
Nonowner Spouse Obtains Discovery of Valuation-Related Info from Owner Spouse’s Medical Practice
Hall v. Hall A Florida divorce case prompted an important discovery ruling from the appellate court as to a nonowner spouse’s right to access documents and information regarding the owner spouse’s interest in a large medical practice. The wife was one of 75 owners in...
Appreciation in Liquor Company’s Value Represents Marital Property, Appeals Court Finds
Lucchesi v. Lucchesi In divorce cases, appreciation of separate property is one of the most complex issues whose analysis can be challenging for attorneys and valuators. A recent Tennessee appeals court decision is noteworthy for explaining the framework courts in...