Virginia Divorce Matter Results in the Court ‘Splitting the Baby’ to Value a 20% Interest in an S Corp. Medical Practice the Husband Owned
Hester v. Hester, 2022 Va. Cir. Several issues were decided in this Virginia divorce case. Still, we focus on only two topics relevant to business valuation and equitable distribution: (1) the valuation of the husband’s 20% interest in an S corporation; and (2) the...
In Appraisal Action, Court Determines Fair Value Using Deal Price Minus Synergies and Adjusting for Increase in Value from Signing to Closing of Merger
In re Appraisal of Regal Entertainment Group Summary. In a merger action involving a publicly traded company, dissenting shareholders sued for a higher value than the deal consideration. Under the applicable appraisal jurisprudence, the court determined fair value...
North Carolina Appellate Court Reverses Trial Court on Amount of Passive Appreciation in an Investment Account
Asare v. Asare In this marital dissolution appellate case, the appellate court must resolve several issues related to the equitable distribution of the marital estate. On most issues, the appellate court affirmed the trial court. However, the appellate court reversed...
Take a Proactive Approach to Thwart Cyber Attacks
The average cost of a data breach has risen to a record high, according to a new study by the independent research firm Ponemon Institute. The study found that the global average cost grew from $4.24 million per incident in 2021 to $4.35 million in 2022, an increase...
North Dakota Supreme Court Affirms Valuation Date and Affirms No Deduction for Taxes in Determining Value of Stock
Sproule v Johnson In a direct appeal from the district court in North Dakota to the Supreme Court in North Dakota, the Supreme Court affirmed the decision of the district court to dissolve a partnership; a buyout of the plaintiffs’ indirect interest in a Canadian...
Michigan Court of Appeals Affirms Modified-Liquidation Value in a Shareholder Deadlock Litigation
Pitsch v Pitsch Holding Co. In this shareholder deadlock case, the Michigan Court of Appeals affirmed the decisions of the trial court to order a sale of the plaintiffs’ shares of Pitsch Holding Co. (PHC) to the defendants and to determine the price of the shares at a...
Pennsylvania Appellate Court Affirms Acceptance of the Wife’s Gross Sales Valuation Method for the Marital Business but Remands for Double Counting of Business Assets
Snyder v. Snyder In this Pennsylvania divorce case, the Superior (Appellate) Court affirmed the trial court’s decision to use the wife’s method of valuing a marital asset business after the master concluded that the wife’s testimony was credible and that her valuation...
Bankruptcy Court Sides With Trustee—Disallows (Fraudulent) Transfers
Stone v. Citizens Equity First Credit Union The trustee for the International Supply Co. (ISCO) asked the bankruptcy court to avoid and recover prepetition fraudulent transfers made to Citizens Equity First Credit Union (CEFCU). The bankruptcy court determined that...
The Tennessee Appeals Court Affirms the Trial Court’s Decision to Exclude From the Marital Estate Financial Advisor the Husband’s ‘Book of Business’
Hollis v. Hollis, 2022 Tenn. App. In this case, the Tennessee Court of Appeals affirmed the trial court's judgment that the husband’s “book of business” as a financial advisor for UBS was not a marital asset. “[T]he trial court properly identified and applied the most...
Ohio Appellate Court Affirms Trial Court’s Denial of Permanent Injunction and Dismisses a Claim of Tortious Interference
Total Quality Logistics, LLC v. Tucker, Albin, and Assocs. An Ohio appellate court affirmed the trial court’s denial of a permanent injunction to the plaintiff because the evidence did not show that it faced immediate and irreparable injury or harm. It was also held...