Louisiana Appeals Court Affirms Trial Court That Husband’s Business Is Not a Professional Business and Has Value Other Than Personal Goodwill of Husband
Thomasee v. Thomasee The Louisiana appellate court affirmed the decision of the Trial Court in a divorce case that included the value of the husband’s business in the marital estate as community property. The husband argued that the FEMA adjuster business is a...
Delaware Court Grants in Some Cases and Denies in Others Motions to Exclude Expert Witnesses and Certain Evidence to be Presented
LCT Capital, LLC v. NGL Energy Partners LP This case dealt with motions related to an ongoing case in the court. The court offered both orders and opinions to resolve the issues at hand. The plaintiff had a Daubert motion to exclude the opinions of the defendant’s...
Idaho Supreme Court Affirms Magistrate Judge’s Opinion Regarding Personal Goodwill
Lamm v. Preston, 2023 This was a tip of the iceberg Idaho Supreme Court decision on a very complex divorce case. This particular decision related to the magistrate court’s order, upheld by the district court, as to the fair market value of one of the parties’...
On Liquidation Tax Matters, Partner Would Not Receive Any Proceeds, Thus the Interest Received Would Be a Nontaxable Profits Interest
ES NPA Holding, LLC v. Comm’r, T.C. Memo 2023-55 The Tax Court ruled that the Class C units were a profits interest because, applying the fair market value of the LLC at the time of receipt, the partner would not receive any proceeds from a liquidation at that time....
Tennessee Appeals Court Affirms Trial Court Decision on Spousal Support and on the Value of Husband’s Medical Practice
Chase v. Chase, 2022 On appeal, the husband asked the court to review whether the wife needed alimony given the assets she otherwise received in the equitable distribution and her earning capacity as a pharmacist, whether an award of rehabilitative alimony and alimony...
Delaware Chancery Court Determines Fair Value of Minority Interest Buyout—Cites Differences in Cash-Flow Assumptions as Cause for Large Discrepancy in Value
Ramcell, Inc. v Alltel Corp., 2022 Del. In this appraisal action to determine fair value, petitioner Ramcell Inc. exercised its appraisal rights in asking for a statutory appraisal of the value of its 155 shares of Jackson Cellular Telephone Co. Inc. The respondent,...
U.S. District Court in California Grants in Part and Denies in Part Motions of Dismissal by Company Against Blockchain Researcher
Zamfir v CasperLabs, LLC The defendant, Casper Labs LLC, in this trademark dispute in U.S. District Court (California) moved for dismissal of eight causes of action from plaintiff Vlad Zamfir’s second amended complaint. The actions dealt primarily with trademark...
U.S. Appellate Court Rules Sufficient Evidence to Support Future Damages
WL All. LLC v. Precision Testing Grp. Inc. This is a partnership dispute between the plaintiff, WL Alliance, and the defendants, Precision Testing Group Inc. and Glenn Stuckey. After a trial, the defendants were found liable for $3.3 million in damages. The defendants...
New York Appellate Court Affirms Award of Value of Husband’s Class B Units in Lieu of Actual Distribution of Share of Units to the Wife
Lieberman-Massoni v. Massoni, 2023 In this New York appellate court case, the appellate court affirms the trial court’s divorce opinion that the awarding of a percentage of the value of the husband’s B-unit shares rather than awarding the shares themselves was proper...
Utah Appellate Court Affirms Value of Husband’s Business, Which Excludes Personal Goodwill, But Disallows Reduction for Taxes on Hypothetical Sale
Rothwell v. Rothwell, 2023 The Court of Appeals of Utah considered several issues on the husband’s appeal from the district court’s ruling concerning the couple’s dissolution of marriage. This digest will cover the appellate court’s opinion regarding the valuation...